FFG Partners LLC Buys Shares of 64,610 Palantir Technologies Inc. (NASDAQ:PLTR)

FFG Partners LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 64,610 shares of the company’s stock, valued at approximately $4,886,000. Palantir Technologies accounts for approximately 1.7% of FFG Partners LLC’s investment portfolio, making the stock its 18th largest position.

Other institutional investors also recently modified their holdings of the company. Fairvoy Private Wealth LLC acquired a new position in Palantir Technologies in the fourth quarter valued at $2,602,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Palantir Technologies by 13.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 247,585 shares of the company’s stock worth $18,725,000 after acquiring an additional 28,534 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $14,062,000. Leo Wealth LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $640,000. Finally, Financial Synergies Wealth Advisors Inc. acquired a new stake in Palantir Technologies during the fourth quarter worth approximately $369,000. 45.65% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the transaction, the director now owns 88,129 shares in the company, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $405,875,479.80. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,656,687 shares of company stock valued at $1,040,105,687 over the last three months. Corporate insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PLTR. Citigroup boosted their price target on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Mizuho increased their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday. DA Davidson raised their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, Jefferies Financial Group raised their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $111.28 on Friday. The company has a fifty day moving average price of $76.46 and a 200-day moving average price of $52.67. The firm has a market cap of $253.50 billion, a price-to-earnings ratio of 556.43, a PEG ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $111.55.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the business posted $0.03 EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.