Spire Wealth Management Boosts Stake in Palantir Technologies Inc. (NYSE:PLTR)

Spire Wealth Management grew its stake in Palantir Technologies Inc. (NYSE:PLTR) by 33.8% during the fourth quarter, HoldingsChannel reports. The fund owned 83,726 shares of the company’s stock after acquiring an additional 21,152 shares during the quarter. Spire Wealth Management’s holdings in Palantir Technologies were worth $1,405,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Palantir Technologies by 11.1% during the third quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after buying an additional 18,756,392 shares during the last quarter. Morgan Stanley grew its stake in Palantir Technologies by 26.1% during the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after purchasing an additional 4,675,824 shares during the last quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd increased its holdings in shares of Palantir Technologies by 314.7% in the third quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock valued at $84,571,000 after purchasing an additional 4,011,100 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Palantir Technologies in the third quarter worth about $55,719,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Palantir Technologies by 1,784.0% during the fourth quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock worth $49,720,000 after purchasing an additional 2,742,071 shares during the period. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Tuesday. Mizuho increased their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their target price for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday. Finally, Citigroup boosted their price objective on Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday. Five research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.65.

Palantir Technologies Trading Up 0.5 %

Shares of PLTR opened at $21.50 on Wednesday. The firm has a market cap of $47.57 billion, a P/E ratio of 237.86, a PEG ratio of 5.72 and a beta of 2.76. The stock’s 50 day moving average is $23.40 and its two-hundred day moving average is $20.31. Palantir Technologies Inc. has a 12 month low of $8.65 and a 12 month high of $27.50.

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

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.00, for a total value of $729,200.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $18,819,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Ryan D. Taylor sold 150,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $24.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the insider now owns 181,460 shares of the company’s stock, valued at $4,355,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $18,819,650. The disclosure for this sale can be found here. Insiders have sold a total of 7,356,273 shares of company stock valued at $182,143,602 over the last ninety days. Corporate insiders own 13.96% of the company’s stock.

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.