Meritas Wealth Management LLC Acquires New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Meritas Wealth Management LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, Holdings Channel.com reports. The firm acquired 4,870 shares of the company’s stock, valued at approximately $368,000.

Other institutional investors have also recently made changes to their positions in the company. Wealth Management Partners LLC boosted its stake in shares of Palantir Technologies by 4.1% during the fourth quarter. Wealth Management Partners LLC now owns 25,130 shares of the company’s stock valued at $1,901,000 after purchasing an additional 980 shares in the last quarter. Thrive Wealth Management LLC bought a new stake in Palantir Technologies during the 4th quarter valued at $341,000. Diversify Advisory Services LLC increased its holdings in shares of Palantir Technologies by 29.1% in the 4th quarter. Diversify Advisory Services LLC now owns 24,575 shares of the company’s stock valued at $1,859,000 after acquiring an additional 5,533 shares during the period. Diversify Wealth Management LLC bought a new position in shares of Palantir Technologies in the 4th quarter worth $876,000. Finally, RoundAngle Advisors LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth $819,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 3.7 %

Shares of NASDAQ PLTR opened at $71.77 on Monday. The company has a 50 day simple moving average of $70.49 and a two-hundred day simple moving average of $47.32. The stock has a market cap of $163.49 billion, a price-to-earnings ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. Analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 123,334 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the completion of the transaction, the insider now owns 331,369 shares of the company’s stock, valued at approximately $14,911,605. This trade represents a 27.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,642,189 shares of company stock worth $1,444,232,453 over the last quarter. 12.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

PLTR has been the topic of several analyst reports. Robert W. Baird began coverage on Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price on the stock. Morgan Stanley reiterated an “underweight” rating and set a $60.00 price objective on shares of Palantir Technologies in a research note on Monday, January 6th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. DA Davidson lifted their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $43.78.

Palantir Technologies 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.