StoneCrest Wealth Management Inc. Invests $545,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

StoneCrest Wealth Management Inc. acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,208 shares of the company's stock, valued at approximately $545,000.

Several other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock worth $460,798,000 after buying an additional 4,667,955 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company's stock valued at $13,786,000 after acquiring an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company's stock valued at $20,146,000 after acquiring an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management grew its holdings in shares of Palantir Technologies by 97.9% during the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company's stock worth $7,515,000 after purchasing an additional 99,921 shares during the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Palantir Technologies during the third quarter worth about $639,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PLTR shares. Jefferies Financial Group downgraded Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price target on the stock. in a research note on Thursday, November 7th. Northland Securities upped their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a "market perform" rating in a research report on Tuesday, November 5th. Wedbush raised their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, November 25th. Argus downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Finally, Bank of America boosted their price target on Palantir Technologies from $55.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $43.78.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 3,337,048 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company's stock, valued at approximately $289,580,255.16. This represents a 34.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now directly owns 62,139 shares of the company's stock, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,642,189 shares of company stock worth $1,444,232,453 in the last 90 days. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded up $2.78 during midday trading on Friday, hitting $72.02. 42,113,500 shares of the company's stock traded hands, compared to its average volume of 71,560,367. The company has a market cap of $164.05 billion, a PE ratio of 360.71, a P/E/G ratio of 6.24 and a beta of 2.82. The firm's fifty day moving average price is $70.22 and its two-hundred day moving average price is $46.85. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating 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 business posted $0.03 EPS. The business's quarterly revenue was up 30.0% on a year-over-year basis. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

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.