Napa Wealth Management Invests $302,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Napa Wealth Management purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,995 shares of the company’s stock, valued at approximately $302,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Palantir Technologies by 102.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,382,639 shares of the company’s stock worth $180,207,000 after buying an additional 1,205,597 shares in the last quarter. MJP Associates Inc. ADV purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $358,000. Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of Palantir Technologies by 12.6% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 17,896 shares of the company’s stock worth $1,353,000 after buying an additional 2,007 shares in the last quarter. Lionshead Wealth Management LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth approximately $1,106,000. Finally, Investment Management Corp of Ontario increased its position in shares of Palantir Technologies by 53.8% in the fourth quarter. Investment Management Corp of Ontario now owns 103,426 shares of the company’s stock worth $7,822,000 after purchasing an additional 36,175 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 6,776 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the transaction, the director now owns 184,617 shares in the company, valued at $15,993,370.71. This represents a 3.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,964,290 shares of company stock worth $250,504,866. Insiders own 9.23% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $128.10 on Wednesday. Palantir Technologies Inc. has a one year low of $20.63 and a one year high of $130.60. The firm’s 50 day simple moving average is $95.75 and its two-hundred day simple moving average is $83.36. The stock has a market capitalization of $300.44 billion, a P/E ratio of 674.25, a PEG ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter last year, the business earned $0.08 earnings per share. The business’s revenue was up 39.4% on a year-over-year basis. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PLTR shares. Morgan Stanley upped their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Jefferies Financial Group upped their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Loop Capital upped their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price objective on the stock. Finally, William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $83.95.

Palantir Technologies Company 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.