Palumbo Wealth Management LLC Increases Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Palumbo Wealth Management LLC lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 13.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,971 shares of the company’s stock after buying an additional 832 shares during the period. Palumbo Wealth Management LLC’s holdings in Palantir Technologies were worth $527,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PLTR. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies during the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC raised its stake in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Roxbury Financial LLC purchased a new position in Palantir Technologies during the fourth quarter worth approximately $27,000. First PREMIER Bank purchased a new position in Palantir Technologies during the fourth quarter worth approximately $28,000. Finally, Wolff Wiese Magana LLC raised its stake in 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 purchasing an additional 265 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the sale, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,346,976 shares of company stock valued at $642,660,729. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $119.16 on Friday. The company’s fifty day moving average price is $81.90 and its two-hundred day moving average price is $56.56. The company has a market capitalization of $271.45 billion, a price-to-earnings ratio of 627.19, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $120.67.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Mizuho increased their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $69.44.

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.