Modern Wealth Management LLC Acquires Shares of 7,619 Palantir Technologies Inc. (NASDAQ:PLTR)

Modern Wealth Management LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,619 shares of the company's stock, valued at approximately $576,000.

A number of other hedge funds have also bought and sold shares of PLTR. Prestige Wealth Management Group LLC raised its stake in shares of Palantir Technologies by 747.1% during the 3rd 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 period. Roxbury Financial LLC bought a new stake in Palantir Technologies in the fourth quarter worth about $27,000. First PREMIER Bank purchased a new position in Palantir Technologies in the fourth quarter valued at about $28,000. Wolff Wiese Magana LLC grew its position in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after acquiring an additional 265 shares during the period. Finally, HighMark Wealth Management LLC increased its stake in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after purchasing an additional 166 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLTR has been the subject of several research reports. Loop Capital reduced their price objective on Palantir Technologies from $141.00 to $125.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Morgan Stanley raised Palantir Technologies from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. William Blair set a $84.00 price objective on Palantir Technologies in a research note on Wednesday, March 5th. Jefferies Financial Group boosted their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. Finally, Bank of America lifted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Palantir Technologies currently has an average rating of "Hold" and an average price target of $74.45.

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Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded down $4.24 during trading on Friday, hitting $85.85. The company's stock had a trading volume of 90,823,164 shares, compared to its average volume of 67,978,339. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The company has a fifty day simple moving average of $91.98 and a two-hundred day simple moving average of $69.28. The company has a market capitalization of $201.35 billion, a PE ratio of 451.87, a P/E/G ratio of 10.84 and a beta of 2.81.

Insiders Place Their Bets

In other news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares of the company's stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 310,000 shares of Palantir Technologies stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $51,545.44. This trade represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is currently owned by corporate insiders.

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.