JPL Wealth Management LLC Acquires Shares of 7,164 Palantir Technologies Inc. (NASDAQ:PLTR)

JPL Wealth Management LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,164 shares of the company's stock, valued at approximately $542,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Roxbury Financial LLC acquired a new position in Palantir Technologies during the 4th quarter worth approximately $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its holdings in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after acquiring an additional 265 shares during the period. HighMark Wealth Management LLC grew its holdings in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after acquiring an additional 166 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $31,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $83.65 on Thursday. The business's 50-day moving average is $87.62 and its two-hundred day moving average is $64.49. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The firm has a market capitalization of $196.19 billion, a PE ratio of 440.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 416,053 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $43,908.64. This trade represents a 99.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now owns 62,139 shares of the company's stock, valued at $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 985,838 shares of company stock worth $75,333,389 over the last ninety days. Corporate insiders own 12.93% of the company's stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of research reports. Loop Capital initiated coverage on Palantir Technologies in a report on Thursday, February 20th. They issued a "buy" rating and a $141.00 price target on the stock. Jefferies Financial Group upped their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Cantor Fitzgerald increased their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Bank of America increased their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Finally, Baird R W upgraded Palantir Technologies to a "hold" rating in a report on Thursday, December 12th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $75.25.

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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.

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