Lake Street Private Wealth LLC Takes $527,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Lake Street Private Wealth LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,969 shares of the company's stock, valued at approximately $527,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC lifted its stake in Palantir Technologies by 747.1% in 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. Wolff Wiese Magana LLC boosted its position in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after buying an additional 265 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies during the second quarter valued at about $30,000. Finally, Ashburton Jersey Ltd purchased a new position in shares of Palantir Technologies in the second quarter worth about $36,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLTR has been the subject of several analyst reports. Raymond James cut Palantir Technologies from an "outperform" rating to a "market perform" rating in a report on Monday, September 23rd. Mizuho raised their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an "underperform" rating in a report on Friday, December 13th. Northland Securities lifted their target price 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. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Finally, DA Davidson boosted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $43.78.

Palantir Technologies Stock Up 3.7 %

Shares of NASDAQ:PLTR traded up $2.53 during midday trading on Friday, reaching $71.77. The company's stock had a trading volume of 54,590,923 shares, compared to its average volume of 79,745,712. The firm has a 50 day moving average of $70.49 and a 200-day moving average of $47.32. The firm has a market capitalization of $163.49 billion, a P/E 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 - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Palantir Technologies's quarterly revenue was up 30.0% on a year-over-year basis. On average, research analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % 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 in the last 90 days. Insiders own 12.93% of the company's stock.

About Palantir Technologies

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.