Net Worth Advisory Group Raises Stock Holdings in Palantir Technologies Inc. $PLTR

Net Worth Advisory Group raised its stake in Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 148.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,949 shares of the company’s stock after purchasing an additional 3,558 shares during the quarter. Net Worth Advisory Group’s holdings in Palantir Technologies were worth $1,057,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Decker Retirement Planning Inc. grew its holdings in shares of Palantir Technologies by 778.7% in the third quarter. Decker Retirement Planning Inc. now owns 61,326 shares of the company’s stock valued at $11,187,000 after purchasing an additional 54,347 shares in the last quarter. Prentice Wealth Management LLC acquired a new stake in Palantir Technologies during the 3rd quarter worth approximately $550,000. Watershed Private Wealth LLC boosted its position in Palantir Technologies by 75.3% in the 3rd quarter. Watershed Private Wealth LLC now owns 7,798 shares of the company’s stock valued at $1,423,000 after buying an additional 3,350 shares during the period. GAM Holding AG boosted its position in Palantir Technologies by 39.0% in the 3rd quarter. GAM Holding AG now owns 13,788 shares of the company’s stock valued at $2,515,000 after buying an additional 3,868 shares during the period. Finally, Pinkerton Wealth LLC acquired a new position in shares of Palantir Technologies in the second quarter worth $3,394,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Down 3.0%

Palantir Technologies stock opened at $143.06 on Friday. The company has a fifty day simple moving average of $148.06 and a 200-day simple moving average of $168.49. The stock has a market cap of $342.15 billion, a P/E ratio of 227.08, a price-to-earnings-growth ratio of 2.92 and a beta of 1.70. Palantir Technologies Inc. has a 12-month low of $66.12 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last posted its earnings results on Monday, February 2nd. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Palantir Technologies had a return on equity of 23.81% and a net margin of 36.31%.The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. Palantir Technologies’s revenue for the quarter was up 70.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 493,025 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $133.78, for a total transaction of $65,956,884.50. Following the sale, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $860,507,475.24. This trade represents a 7.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Glazer sold 17,438 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $133.72, for a total value of $2,331,809.36. Following the sale, the insider owned 392,370 shares of the company’s stock, valued at approximately $52,467,716.40. The trade was a 4.26% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,045,279 shares of company stock worth $140,539,043. 9.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. William Blair raised Palantir Technologies from a “market perform” rating to an “outperform” rating in a research report on Monday, February 2nd. Wall Street Zen lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Mizuho raised Palantir Technologies from a “neutral” rating to an “outperform” rating and set a $195.00 target price for the company in a research note on Wednesday, February 18th. HSBC upgraded Palantir Technologies from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a report on Tuesday, February 3rd. Finally, UBS Group lifted their price objective on Palantir Technologies from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $198.59.

View Our Latest Stock Report on PLTR

Key Stories Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

Palantir Technologies Profile

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTRFree Report).

Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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