Avaii Wealth Management LLC Makes New $250,000 Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Avaii Wealth Management LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,306 shares of the company’s stock, valued at approximately $250,000.

Several other hedge funds have also recently made changes to their positions in PLTR. Affinity Wealth Management LLC grew its stake in Palantir Technologies by 0.9% during the 4th quarter. Affinity Wealth Management LLC now owns 124,443 shares of the company’s stock valued at $9,412,000 after purchasing an additional 1,165 shares during the last quarter. Vista Investment Partners LLC lifted its holdings in shares of Palantir Technologies by 4.6% during the fourth quarter. Vista Investment Partners LLC now owns 7,699 shares of the company’s stock worth $582,000 after purchasing an additional 342 shares during the period. Jamison Private Wealth Management Inc. boosted its position in Palantir Technologies by 566.4% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 8,997 shares of the company’s stock valued at $680,000 after buying an additional 7,647 shares during the last quarter. Duncan Williams Asset Management LLC acquired a new position in Palantir Technologies in the 4th quarter worth approximately $205,000. Finally, Alan B Lancz & Associates Inc. purchased a new position in Palantir Technologies during the 4th quarter worth approximately $227,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

PLTR opened at $78.98 on Friday. The company has a market cap of $179.92 billion, a PE ratio of 394.92, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The company has a 50-day moving average price of $71.96 and a 200 day moving average price of $49.04.

Palantir Technologies (NASDAQ:PLTR) last announced its 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. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned $0.03 earnings per share. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. 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 report on Thursday, November 7th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Securities raised their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.61.

Insider Activity at Palantir Technologies

In other news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the transaction, the insider now directly owns 562,006 shares in the company, valued at $28,077,819.76. The trade was a 3.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,518,855 shares of company stock valued at $1,438,682,423. 12.93% of the stock is owned by insiders.

About Palantir Technologies

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.