Lake Street Private Wealth LLC Makes New $527,000 Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Lake Street Private Wealth LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 6,969 shares of the company’s stock, valued at approximately $527,000.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in 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 worth $460,798,000 after buying an additional 4,667,955 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of 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 worth $13,786,000 after acquiring an additional 68,945 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after purchasing an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management raised its stake in Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after purchasing an additional 99,921 shares during the period. Finally, Coldstream Capital Management Inc. purchased a new position in Palantir Technologies in the 3rd quarter worth approximately $639,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

PLTR opened at $71.77 on Friday. The stock’s 50 day moving average price is $70.49 and its 200-day moving average price is $47.17. Palantir Technologies Inc. has a one year low of $16.03 and a one year high of $84.80. The stock has a market cap of $163.49 billion, a price-to-earnings ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82.

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

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was 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 owns 195,393 shares in the company, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 123,334 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $5,550,030.00. Following the transaction, the insider now owns 331,369 shares in the company, valued at $14,911,605. The trade was a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wedbush increased their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research note on Thursday, November 7th. Mizuho boosted their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Robert W. Baird initiated coverage on Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. Finally, Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $43.78.

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.