Palantir Technologies Inc. (NASDAQ:PLTR) is Hedeker Wealth LLC’s Largest Position

Hedeker Wealth LLC trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 19.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,718 shares of the company’s stock after selling 92,540 shares during the period. Palantir Technologies accounts for approximately 7.1% of Hedeker Wealth LLC’s holdings, making the stock its largest position. Hedeker Wealth LLC’s holdings in Palantir Technologies were worth $28,642,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the 3rd quarter worth $25,000. Prestige Wealth Management Group LLC increased 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 worth $27,000 after buying an additional 650 shares in the last quarter. First PREMIER Bank purchased a new stake in Palantir Technologies in the 4th quarter worth $28,000. Wolff Wiese Magana LLC increased 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 worth $29,000 after buying an additional 265 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Palantir Technologies in the 4th quarter worth $33,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Northland Securities increased their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday. UBS Group increased their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday. Jefferies Financial Group increased their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday. Bank of America increased their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Mizuho increased their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $111.28 on Friday. The firm has a market capitalization of $253.50 billion, a P/E ratio of 556.43, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. The company’s 50-day moving average is $75.56 and its 200 day moving average is $52.26. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $111.55.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. Research analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the transaction, the director now directly owns 88,129 shares of the company’s stock, valued at $9,059,661.20. This trade represents a 11.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Alexander C. Karp sold 38,093 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $405,296,576.58. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,656,687 shares of company stock valued at $1,040,105,687. 12.93% of the stock is currently owned by company insiders.

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.