WESPAC Advisors LLC Invests $1.55 Million in Palantir Technologies Inc. (NASDAQ:PLTR)

WESPAC Advisors LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 20,552 shares of the company’s stock, valued at approximately $1,554,000. Palantir Technologies makes up about 1.1% of WESPAC Advisors LLC’s investment portfolio, making the stock its 19th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Prestige Wealth Management Group LLC increased its position in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC increased its holdings in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC increased its holdings in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather A. Planishek sold 13,891 shares of the company’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 directly owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,680,992 shares of company stock worth $473,395,877 over the last quarter. 12.93% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PLTR shares. Mizuho lifted their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Northland Securities lifted their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Wedbush lifted their price objective on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Royal Bank of Canada lifted their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, Citigroup lifted their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $73.21.

Palantir Technologies Stock Performance

Shares of PLTR opened at $101.33 on Friday. The stock has a 50 day simple moving average of $85.87 and a 200 day simple moving average of $59.60. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The firm has a market capitalization of $230.84 billion, a PE ratio of 533.36, a P/E/G ratio of 10.84 and a beta of 2.81.

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.