4,419 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Bought by Welch Group LLC

Welch Group LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, Holdings Channel reports. The fund acquired 4,419 shares of the company’s stock, valued at approximately $341,000.

Several other hedge funds also recently made changes to their positions in the company. First PREMIER Bank acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC boosted its holdings in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the period. R Squared Ltd acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $33,000. Valley National Advisers Inc. grew its position in shares of Palantir Technologies by 181.3% during the fourth quarter. Valley National Advisers Inc. now owns 512 shares of the company’s stock worth $38,000 after acquiring an additional 330 shares during the last quarter. Finally, Concord Wealth Partners increased its holdings in shares of Palantir Technologies by 132.2% in the 4th quarter. Concord Wealth Partners now owns 527 shares of the company’s stock valued at $40,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on PLTR shares. Mizuho raised their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday. DA Davidson boosted their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Bank of America boosted their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Cantor Fitzgerald increased their price target on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $58.56.

Palantir Technologies Price Performance

PLTR opened at $83.74 on Tuesday. The stock’s 50 day simple moving average is $74.09 and its 200 day simple moving average is $51.39. Palantir Technologies Inc. has a 1-year low of $16.48 and a 1-year high of $85.22. The stock has a market cap of $190.76 billion, a P/E ratio of 418.72, a P/E/G ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results 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. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the business posted $0.03 earnings per share. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. Research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies 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 transaction, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $514,411.60. Following the sale, the director now directly owns 121,390 shares of the company’s stock, valued at approximately $7,047,903.40. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,153,753 shares of company stock worth $1,287,042,675 in the last three months. Company 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.