Fairvoy Private Wealth LLC Buys New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Fairvoy Private Wealth LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, HoldingsChannel reports. The fund bought 34,399 shares of the company’s stock, valued at approximately $2,602,000.

Other hedge funds have also bought and sold shares of the company. First PREMIER Bank purchased a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $28,000. Wolff Wiese Magana LLC raised its stake in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. R Squared Ltd acquired a new position in Palantir Technologies in the 4th quarter valued at $33,000. Valley National Advisers Inc. raised its stake in Palantir Technologies by 181.3% in the 4th quarter. Valley National Advisers Inc. now owns 512 shares of the company’s stock valued at $38,000 after purchasing an additional 330 shares during the last quarter. Finally, Concord Wealth Partners raised its stake in Palantir Technologies by 132.2% in the 4th quarter. Concord Wealth Partners now owns 527 shares of the company’s stock valued at $40,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $111.28 on Friday. The stock has a 50-day simple moving average of $76.46 and a 200-day simple moving average of $52.67. The stock has a market capitalization of $253.50 billion, a PE ratio of 556.43, a PEG ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $111.55.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. Analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Analysts Set New Price Targets

PLTR has been the subject of several recent research reports. Citigroup increased their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $95.00 in a research note on Tuesday. The Goldman Sachs Group raised their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, Wedbush raised their target price on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $69.44.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 1,823,602 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total value of $115,105,758.24. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $406,004,124.96. This represents a 22.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,656,687 shares of company stock worth $1,040,105,687 over the last 90 days. 12.93% of the stock is currently owned by insiders.

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.