Institute for Wealth Management LLC. Buys New Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Institute for Wealth Management LLC. purchased a new position in Palantir Technologies Inc. (NYSE:PLTR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,923 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Western Wealth Management LLC grew its position in shares of Palantir Technologies by 25.4% in the 4th quarter. Western Wealth Management LLC now owns 35,194 shares of the company’s stock worth $604,000 after buying an additional 7,125 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Palantir Technologies by 5,559.4% during the 4th quarter. Federated Hermes Inc. now owns 291,970 shares of the company’s stock valued at $5,013,000 after purchasing an additional 286,811 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Palantir Technologies by 104.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,890 shares of the company’s stock valued at $67,000 after acquiring an additional 1,990 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Palantir Technologies by 2.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 261,868 shares of the company’s stock valued at $4,496,000 after purchasing an additional 7,254 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in Palantir Technologies in the fourth quarter worth $1,910,000. Institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $25.10, for a total transaction of $125,500.00. Following the completion of the sale, the director now directly owns 181,830 shares in the company, valued at $4,563,933. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Heather A. Planishek sold 8,521 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $23.27, for a total value of $198,283.67. Following the transaction, the insider now owns 703,485 shares of the company’s stock, valued at $16,370,095.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the transaction, the director now owns 181,830 shares of the company’s stock, valued at $4,563,933. The disclosure for this sale can be found here. Insiders have sold 7,456,273 shares of company stock worth $184,343,202 in the last quarter. Company insiders own 13.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PLTR. Raymond James raised their price objective on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Bank of America raised their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research report on Wednesday, February 14th. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and raised their price objective for the company from $10.00 to $20.00 in a research report on Tuesday, February 6th. Finally, Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $13.00 to $22.00 in a report on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.35.

Palantir Technologies Stock Performance

NYSE PLTR opened at $20.47 on Monday. The company has a market capitalization of $45.29 billion, a price-to-earnings ratio of 227.47, a PEG ratio of 5.02 and a beta of 2.78. The stock has a 50-day moving average of $23.77 and a 200 day moving average of $19.92. Palantir Technologies Inc. has a one year low of $7.28 and a one year high of $27.50.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The company had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. On average, equities analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Palantir Technologies Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.