3,280 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Acquired by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, Holdings Channel reports. The firm purchased 3,280 shares of the company’s stock, valued at approximately $248,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC grew its holdings in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Palantir Technologies by 3,476.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after buying an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after buying an additional 2,984,348 shares during the period. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of research analyst reports. Robert W. Baird initiated coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price for the company. UBS Group initiated coverage on Palantir Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price for the company. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Wedbush boosted their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Mizuho increased their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $44.61.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $78.98 on Friday. The business’s fifty day moving average is $71.30 and its two-hundred day moving average is $48.32. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80. The firm has a market cap of $179.92 billion, a P/E ratio of 394.92, a P/E/G ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 EPS. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This represents a 34.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total transaction of $406,646.46. Following the completion of the sale, the director now owns 130,250 shares in the company, valued at approximately $6,576,322.50. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,518,855 shares of company stock worth $1,438,682,423 in the last quarter. 12.93% of the stock is owned by company insiders.

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.