TrueWealth Advisors LLC Invests $582,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

TrueWealth Advisors LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,701 shares of the company's stock, valued at approximately $582,000.

Several other institutional investors also recently made changes to their positions in PLTR. Wolff Wiese Magana LLC raised 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 buying an additional 265 shares during the period. Trivant Custom Portfolio Group LLC raised its stake in shares of Palantir Technologies by 313.3% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 620 shares of the company's stock valued at $47,000 after acquiring an additional 470 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC boosted its position in 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. Finally, PSI Advisors LLC increased its holdings in Palantir Technologies by 99.7% in the 4th quarter. PSI Advisors LLC now owns 795 shares of the company's stock valued at $60,000 after purchasing an additional 397 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 483,987 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the completion of the transaction, the insider now directly owns 170,273 shares in the company, valued at approximately $12,681,933.04. The trade was a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the sale, the director now owns 130,250 shares in the company, valued at approximately $6,576,322.50. This represents a 5.82 % 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 three months. 12.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PLTR shares. Raymond James downgraded Palantir Technologies from an "outperform" rating to a "market perform" rating in a research report on Monday, September 23rd. Northland Securities increased their price objective 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. Argus cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Bank of America raised their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a "buy" rating in a report on Monday, November 25th. Finally, Baird R W upgraded shares of Palantir Technologies to a "hold" rating in a report on Thursday, December 12th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $43.78.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded up $2.53 during midday trading on Friday, hitting $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 market cap of $163.49 billion, a P/E ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80. The firm's fifty day moving average price is $70.49 and its 200-day moving average price is $47.17.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business's revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. As a group, research analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal 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.