42,750 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Purchased by Destiny Wealth Partners LLC

Destiny Wealth Partners LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 42,750 shares of the company’s stock, valued at approximately $3,233,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies during the third quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted its stake in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares in the last quarter. First PREMIER Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter worth about $28,000. Wolff Wiese Magana LLC increased its position in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Palantir Technologies in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,181,807 shares of company stock worth $1,288,448,522. 12.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley reiterated an “underweight” rating and set a $60.00 price objective on shares of Palantir Technologies in a research note on Monday, January 6th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Cantor Fitzgerald assumed coverage on Palantir Technologies in a research report on Friday, January 17th. They issued a “neutral” rating and a $72.00 price objective on the stock. Northland Securities upped their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Finally, Wedbush raised their target price on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Seven research 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.com, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $44.61.

Palantir Technologies Stock Up 1.6 %

Shares of Palantir Technologies stock opened at $82.49 on Friday. The business has a 50-day moving average price of $73.71 and a 200 day moving average price of $50.69. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $85.22. The firm has a market cap of $187.91 billion, a P/E ratio of 412.47, a P/E/G ratio of 7.29 and a beta of 2.82.

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

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.