Trellis Wealth Advisors LLC Makes New $392,000 Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Trellis Wealth Advisors LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 5,185 shares of the company’s stock, valued at approximately $392,000. Palantir Technologies makes up about 0.2% of Trellis Wealth Advisors LLC’s holdings, making the stock its 26th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in PLTR. Prestige Wealth Management Group LLC grew its position in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the last quarter. Roxbury Financial LLC acquired a new position in Palantir Technologies in the fourth quarter worth approximately $27,000. First PREMIER Bank acquired a new position in Palantir Technologies in the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its position in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC grew its position in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several research analyst reports. DA Davidson lifted their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group lifted their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Citigroup lifted their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Loop Capital initiated coverage on shares of Palantir Technologies in a research report on Thursday. They set a “buy” rating and a $141.00 price objective on the stock. Finally, Robert W. Baird lifted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.21.

Palantir Technologies Trading Down 4.6 %

PLTR stock opened at $101.33 on Friday. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The company has a fifty day simple moving average of $85.87 and a 200 day simple moving average of $59.37. The firm has a market cap of $230.84 billion, a PE ratio of 533.36, a PEG ratio of 10.84 and a beta of 2.81.

Insider Activity at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,680,992 shares of company stock valued at $473,395,877. Insiders own 12.93% of the company’s stock.

About Palantir Technologies

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.