Wetzel Investment Advisors Inc. Buys New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Wetzel Investment Advisors Inc. purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,400 shares of the company's stock, valued at approximately $257,000.

A number of other hedge funds have also recently added to or reduced their stakes in PLTR. State Street Corp raised its stake in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company's stock valued at $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock worth $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company's stock valued at $557,365,000 after acquiring an additional 808,444 shares during the last quarter. FMR LLC raised its stake in shares of Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company's stock worth $464,192,000 after buying an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Price Performance

NASDAQ PLTR traded up $4.50 during trading hours on Tuesday, reaching $79.94. 49,570,063 shares of the company's stock traded hands, compared to its average volume of 69,538,719. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80. The firm has a 50-day simple moving average of $72.25 and a 200 day simple moving average of $49.52. The firm has a market cap of $182.09 billion, a PE ratio of 399.22, a PEG ratio of 7.08 and a beta of 2.82.

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

Analyst Ratings Changes

A number of research firms recently commented on PLTR. Northland Securities upped 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. Jefferies Financial Group cut Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. Mizuho boosted their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an "underperform" rating in a research note on Friday, December 13th. Finally, Baird R W raised Palantir Technologies to a "hold" rating in a research note on Thursday, December 12th. Seven 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $44.61.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares of the company's stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $55.03, for a total value of $247,635,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. The trade was a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,181,807 shares of company stock worth $1,288,448,522 over the last three months. 12.93% of the stock is currently owned by company 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.