Westwood Wealth Management Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Westwood Wealth Management purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 17,500 shares of the company’s stock, valued at approximately $1,324,000. Palantir Technologies makes up about 0.5% of Westwood Wealth Management’s portfolio, making the stock its 23rd largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Prestige Wealth Management Group LLC increased its position in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at $27,000. First PREMIER Bank purchased a new stake in Palantir Technologies during the 4th quarter worth about $28,000. Wolff Wiese Magana LLC raised its stake in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC lifted its holdings in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLTR. DA Davidson boosted their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. UBS Group raised their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Bank of America increased their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Royal Bank of Canada lifted their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Finally, Mizuho increased their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $75.19.

Palantir Technologies Trading Down 11.5 %

Shares of PLTR stock opened at $74.01 on Friday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The company has a market capitalization of $173.58 billion, a PE ratio of 389.55, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. The firm has a fifty day simple moving average of $92.67 and a 200-day simple moving average of $70.93.

Insider Activity

In related news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated 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 transaction, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total value of $1,212,423.20. Following the sale, the director now owns 88,129 shares in the company, valued at $9,059,661.20. This represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,993,175 shares of company stock worth $253,549,610 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

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.