Masso Torrence Wealth Management Inc. Buys New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Masso Torrence Wealth Management Inc. purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,680 shares of the company’s stock, valued at approximately $354,000.

Other large investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its holdings in shares of Palantir Technologies by 20.9% during the second quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock worth $1,336,000 after purchasing an additional 9,109 shares during the period. ProShare Advisors LLC lifted its stake in Palantir Technologies by 14.9% during the 2nd quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock valued at $332,000 after acquiring an additional 1,702 shares during the period. Magnolia Capital Advisors LLC acquired a new stake in Palantir Technologies during the 2nd quarter valued at approximately $381,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Palantir Technologies by 23.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 784,823 shares of the company’s stock valued at $19,880,000 after acquiring an additional 146,652 shares during the last quarter. Finally, Quarry LP increased its stake in shares of Palantir Technologies by 193.1% in the second quarter. Quarry LP now owns 4,200 shares of the company’s stock worth $106,000 after acquiring an additional 2,767 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $79.82 on Wednesday. The business’s 50 day moving average price is $72.59 and its 200-day moving average price is $49.89. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The firm has a market capitalization of $181.82 billion, a PE ratio of 402.16, 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, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Bank of America lifted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Morgan Stanley reissued an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. Finally, UBS Group began coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective for the company. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $44.61.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, 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 transaction of $999,200.00. Following the completion of the sale, the insider now owns 562,006 shares of the company’s stock, valued at $28,077,819.76. This trade represents a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of Palantir Technologies stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the sale, the director now owns 130,250 shares in the company, valued at $6,576,322.50. This represents a 5.82 % decrease in their position. 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 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.