Hager Investment Management Services LLC Buys New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Hager Investment Management Services LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, Holdings Channel.com reports. The fund acquired 70,431 shares of the company’s stock, valued at approximately $5,327,000. Palantir Technologies makes up 3.3% of Hager Investment Management Services LLC’s holdings, making the stock its 7th biggest position.

Other large investors have also recently made changes to their positions in the company. First PREMIER Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $28,000. Wolff Wiese Magana LLC grew its stake in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $33,000. Valley National Advisers Inc. grew its stake in shares of Palantir Technologies by 181.3% during the fourth quarter. Valley National Advisers Inc. now owns 512 shares of the company’s stock worth $38,000 after acquiring an additional 330 shares during the last quarter. Finally, Concord Wealth Partners grew its stake in shares of Palantir Technologies by 132.2% during the fourth quarter. Concord Wealth Partners now owns 527 shares of the company’s stock worth $40,000 after acquiring an additional 300 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 24.0 %

PLTR opened at $103.83 on Wednesday. The company has a market cap of $236.53 billion, a price-to-earnings ratio of 519.18, a PEG ratio of 7.54 and a beta of 2.81. The firm’s fifty day simple moving average is $74.09 and its two-hundred day simple moving average is $51.39. Palantir Technologies Inc. has a 52-week low of $16.48 and a 52-week high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 earnings per share. On average, research analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PLTR. Northland Securities boosted their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday. DA Davidson upped their target price on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday. UBS Group upped their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $95.00 in a research report on Tuesday. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $64.89.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $353,967,157.74. This trade represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,153,753 shares of company stock worth $1,287,042,675. 12.93% of the stock is owned by insiders.

Palantir Technologies Company 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.