Palacios Wealth Management LLC Makes New $1.06 Million Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Palacios Wealth Management LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 14,075 shares of the company’s stock, valued at approximately $1,064,000. Palantir Technologies accounts for approximately 1.1% of Palacios Wealth Management LLC’s holdings, making the stock its 19th largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLTR. SeaCrest Wealth Management LLC increased its position in shares of Palantir Technologies by 8.2% during the third quarter. SeaCrest Wealth Management LLC now owns 31,843 shares of the company’s stock worth $1,185,000 after acquiring an additional 2,400 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of Palantir Technologies by 63.4% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 37,631 shares of the company’s stock worth $1,400,000 after acquiring an additional 14,600 shares during the last quarter. Firethorn Wealth Partners LLC purchased a new stake in shares of Palantir Technologies during the third quarter worth about $206,000. Seven Grand Managers LLC purchased a new stake in shares of Palantir Technologies during the third quarter worth about $930,000. Finally, Tamar Securities LLC purchased a new stake in shares of Palantir Technologies during the third quarter worth about $331,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Up 0.4 %

Shares of PLTR stock opened at $117.91 on Friday. The business has a 50 day moving average of $80.12 and a two-hundred day moving average of $55.28. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $118.66. The company has a market cap of $268.60 billion, a P/E ratio of 620.61, a PEG ratio of 11.44 and a beta of 2.81.

Analysts Set New Price Targets

PLTR has been the topic of a number of analyst reports. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. DA Davidson lifted their target price on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Robert W. Baird boosted their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, UBS Group boosted their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $69.44.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 38,093 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $405,296,576.58. The trade was a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,346,976 shares of company stock worth $642,660,729 over the last ninety days. Company insiders own 12.93% of the company’s stock.

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.