TrueWealth Advisors LLC Purchases Shares of 7,701 Palantir Technologies Inc. (NASDAQ:PLTR)

TrueWealth Advisors LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 7,701 shares of the company’s stock, valued at approximately $582,000.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after purchasing an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management raised its position in shares of Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after purchasing an additional 99,921 shares during the period. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Palantir Technologies during the 3rd quarter valued at $639,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 3.7 %

PLTR opened at $71.77 on Friday. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The stock has a 50-day moving average of $70.49 and a 200 day moving average of $47.17. The firm has a market cap of $163.49 billion, a P/E ratio of 358.87, a P/E/G ratio of 6.24 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 for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. On average, research analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PLTR shares. DA Davidson raised their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Wedbush lifted their target price on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Mizuho boosted their price target on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Robert W. Baird started coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. Finally, Morgan Stanley reissued an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a report on Monday, January 6th. 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 company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $43.78.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is currently owned by insiders.

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.