Principle Wealth Partners LLC Purchases Shares of 10,000 Palantir Technologies Inc. (NYSE:PLTR)

Principle Wealth Partners LLC acquired a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the company’s stock, valued at approximately $172,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PLTR. Pursue Wealth Partners LLC bought a new position in Palantir Technologies during the 4th quarter valued at about $1,741,000. Russell Investments Group Ltd. boosted its holdings in shares of Palantir Technologies by 48.9% in the 4th quarter. Russell Investments Group Ltd. now owns 374,833 shares of the company’s stock worth $6,461,000 after acquiring an additional 123,048 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in Palantir Technologies during the 4th quarter worth approximately $558,000. Golden State Equity Partners raised its position in Palantir Technologies by 4.6% in the 4th quarter. Golden State Equity Partners now owns 14,435 shares of the company’s stock valued at $248,000 after purchasing an additional 640 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in Palantir Technologies by 44.0% in the fourth quarter. Truist Financial Corp now owns 115,520 shares of the company’s stock worth $1,983,000 after purchasing an additional 35,295 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PLTR. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price target for the stock from $10.00 to $20.00 in a research report on Tuesday, February 6th. Wedbush reissued an “outperform” rating and issued a $35.00 price target (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Bank of America upped their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Raymond James boosted their target price on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $5.00 price target on shares of Palantir Technologies in a report on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average price target of $18.35.

Palantir Technologies Price Performance

Shares of NYSE:PLTR opened at $22.82 on Tuesday. The company has a market capitalization of $50.49 billion, a price-to-earnings ratio of 253.58, a P/E/G ratio of 5.52 and a beta of 2.78. The firm’s 50 day simple moving average is $23.42 and its 200 day simple moving average is $20.11. Palantir Technologies Inc. has a fifty-two week low of $7.28 and a fifty-two week high of $27.50.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The firm had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. Equities research analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the sale, the director now owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the sale, the director now owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the sale, the insider now directly owns 181,460 shares in the company, valued at approximately $3,992,120. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is owned by company insiders.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.