Carter Financial Group INC. Makes New Investment in Palantir Technologies Inc. $PLTR

Carter Financial Group INC. bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 14,463 shares of the company’s stock, valued at approximately $1,972,000. Palantir Technologies makes up about 1.3% of Carter Financial Group INC.’s portfolio, making the stock its 19th biggest position.

Other institutional investors have also made changes to their positions in the company. Signature Resources Capital Management LLC bought a new stake in Palantir Technologies during the second quarter valued at $25,000. Wealth Preservation Advisors LLC bought a new position in shares of Palantir Technologies in the 1st quarter worth about $27,000. 1248 Management LLC acquired a new position in shares of Palantir Technologies in the 1st quarter valued at about $27,000. Briaud Financial Planning Inc bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $27,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $27,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $183.57 on Friday. Palantir Technologies Inc. has a 1-year low of $63.40 and a 1-year high of $207.52. The business’s fifty day moving average price is $179.31 and its two-hundred day moving average price is $163.62. The company has a market capitalization of $437.53 billion, a P/E ratio of 437.08, a PEG ratio of 7.12 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 62.8% compared to the same quarter last year. On average, research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander C. Karp sold 359,325 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total transaction of $58,925,706.75. Following the sale, the insider owned 6,432,258 shares of the company’s stock, valued at $1,054,825,989.42. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 308,635 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $50,613,053.65. Following the transaction, the insider directly owned 592 shares of the company’s stock, valued at approximately $97,082.08. The trade was a 99.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,008,844 shares of company stock valued at $164,676,161. 9.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent research reports. Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Piper Sandler raised their price target on Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Daiwa Capital Markets boosted their price objective on Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. CICC Research increased their target price on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Finally, Bank of America boosted their price target on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $172.28.

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.