SteelPeak Wealth LLC Raises Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

SteelPeak Wealth LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 96.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,401 shares of the company’s stock after buying an additional 26,742 shares during the period. SteelPeak Wealth LLC’s holdings in Palantir Technologies were worth $4,114,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies during the 3rd quarter valued at approximately $25,000. Prestige Wealth Management Group LLC raised its holdings in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the last quarter. First PREMIER Bank acquired a new position in Palantir Technologies during the fourth quarter valued at $28,000. Wolff Wiese Magana LLC boosted its holdings in 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 during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies during the 2nd quarter worth about $30,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PLTR shares. Morgan Stanley reissued an “underweight” rating and issued a $60.00 price objective on shares of Palantir Technologies in a report on Monday, January 6th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Northland Securities raised their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Wedbush lifted their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, UBS Group assumed coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target on the stock. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $44.61.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares of the company’s stock, valued at $7,748,867.94. The trade was a 9.60 % 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 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the sale, the insider now directly owns 562,006 shares in the company, valued at approximately $28,077,819.76. The trade was a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,181,807 shares of company stock worth $1,288,448,522. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $80.23 on Wednesday. The stock has a 50 day moving average price of $72.25 and a 200 day moving average price of $49.52. The stock has a market capitalization of $182.77 billion, a price-to-earnings ratio of 401.17, a PEG ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a one year low of $16.03 and a one year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping 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 firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the business posted $0.03 earnings per share. The firm’s revenue was up 30.0% compared to the same quarter last year. On average, analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

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.