Journey Strategic Wealth LLC Purchases New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Journey Strategic Wealth LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, Holdings Channel reports. The fund acquired 6,764 shares of the company’s stock, valued at approximately $512,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies during the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC grew its stake in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the period. First PREMIER Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at $28,000. Wolff Wiese Magana LLC raised its stake in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. DA Davidson raised their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Morgan Stanley reiterated an “underweight” rating and issued a $60.00 price objective on shares of Palantir Technologies in a research note on Monday, January 6th. UBS Group began coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price for the company. Finally, Northland Securities upped their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $44.61.

Insider Buying and Selling

In related news, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total value of $999,200.00. Following the transaction, the insider now owns 562,006 shares of the company’s stock, valued at $28,077,819.76. This represents a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,181,807 shares of company stock worth $1,288,448,522. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $82.49 on Monday. The company’s 50 day simple moving average is $73.71 and its two-hundred day simple moving average is $50.84. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $85.22. The stock has a market capitalization of $187.91 billion, a PE ratio of 412.47, a P/E/G ratio of 7.29 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly 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. The firm had revenue of $725.52 million for 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 company’s revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current 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.