Synergy Asset Management LLC Invests $503,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Synergy Asset Management LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,897 shares of the company’s stock, valued at approximately $503,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Trust acquired a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $258,000. Strategic Planning Group LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at about $2,926,000. Ibex Wealth Advisors bought a new stake in shares of Palantir Technologies in the fourth quarter valued at about $13,417,000. Swedbank AB bought a new position in shares of Palantir Technologies during the fourth quarter worth about $31,491,000. Finally, Allen Capital Group LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at approximately $287,000. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total value of $999,200.00. Following the transaction, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $28,077,819.76. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,181,807 shares of company stock worth $1,288,448,522 in the last three months. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $79.76 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The stock’s fifty day moving average price is $72.94 and its two-hundred day moving average price is $50.10. The company has a market cap of $181.69 billion, a PE ratio of 398.82, a P/E/G ratio of 7.08 and a beta of 2.82.

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, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 earnings per share. On average, equities analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLTR. UBS Group began coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price for the company. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Morgan Stanley restated an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research note on Monday, January 6th. Finally, Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $44.61.

About Palantir Technologies

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.