Mutual Advisors LLC Increases Stake in Palantir Technologies

Mutual Advisors LLC has announced a 22.8% increase in its holdings of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, as per their latest filing with the Securities and Exchange Commission (SEC). The firm now owns a total of 63,108 shares of the company after acquiring an additional 11,710 shares throughout the quarter. The value of Mutual Advisors LLC's investment in Palantir Technologies is estimated at approximately $4.37 million as of the latest reporting period.

Additionally, other institutional investors have also been active in trading Palantir shares. For instance, First PREMIER Bank initiated a new position in the fourth quarter, investing around $28,000. Also, Wolff Wiese Magana LLC raised its holdings by 230.4%, now owning 380 shares valued at about $29,000 after purchasing an extra 265 shares. Financial Management Professionals Inc. and Trivant Custom Portfolio Group LLC also increased their positions significantly, with growth rates of 171.5% and 313.3%, respectively. As of now, around 45.65% of Palantir's stock is held by institutional investors and hedge funds.

Recent Insider Trading at Palantir Technologies

In related insider activity, Director Alexandra W. Schiff sold 4,000 shares of Palantir's stock on January 7. The shares were sold at an average price of $71.63, resulting in a total value of $286,520. Following this transaction, Schiff holds 195,393 shares worth approximately $13.996 million. This sale marked a 2.01% decrease in her overall stake in the company. Furthermore, CEO Alexander C. Karp sold a substantial 3,337,048 shares on October 28 at an average price of $45.02, totaling around $150.23 million. After this sale, Karp owned 6,432,258 shares valued at approximately $289.58 million, signifying a 34.16% reduction in his stake. Over the past three months, insiders have sold a total of 23,518,855 shares worth over $1.43 billion. Company insiders collectively hold about 12.93% of Palantir's stock.

Stock Performance of Palantir Technologies

The stock opened at $78.98 recently. With a 50-day moving average of $71.30 and a 200-day moving average of $48.32, Palantir Technologies has a market capitalization of $179.92 billion. The company's price-to-earnings (P/E) ratio stands at 394.92 with a P/E growth (P/E/G) ratio of 6.73. The stock has experienced a 52-week low of $16.03 and a high of $84.80.

In its latest quarterly earnings report released on November 4, Palantir reported earnings per share (EPS) of $0.10, exceeding the expected $0.09. The company had a net margin of 18.01% and a return on equity of 9.94%. Total revenue for the quarter reached $725.52 million, surpassing analysts' expectations of $705.11 million, and marking a 30% increase year-over-year.

Recent Analyst Ratings for Palantir Technologies

Multiple analysts have recently provided their perspectives on Palantir Technologies. William Blair reiterated an "underperform" rating on December 18. Goldman Sachs raised their price target on the stock from $16.00 to $41.00 and maintained a "neutral" rating. In contrast, Jefferies Financial Group downgraded their rating from "hold" to "underperform" and set a target price of $28.00. Cantor Fitzgerald began coverage with a "neutral" rating and a price objective of $72.00. Overall, seven analysts rated the stock as a sell, twelve as hold, and two as buy, leading to an average rating of "Hold" with an average price target of $44.61.

About Palantir Technologies

Palantir Technologies, Inc. specializes in developing and deploying software platforms that function as central operating systems for clients. The company operates in two primary segments: Commercial, focusing on non-government clients, and Government, which provides services to U.S. and non-U.S. government customers.

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