Avaii Wealth Management LLC Takes $250,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Avaii Wealth Management LLC bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,306 shares of the company’s stock, valued at approximately $250,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its stake in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC lifted 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 lifted its holdings in shares of Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after acquiring an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the period. Finally, Lord Abbett & CO. LLC grew its holdings in Palantir Technologies by 943.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction on 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 owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This trade represents a 34.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the transaction, the director now directly owns 100,923 shares in the company, valued at $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,518,855 shares of company stock worth $1,438,682,423 over the last quarter. Insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PLTR. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Cantor Fitzgerald began coverage on Palantir Technologies in a research note on Friday, January 17th. They set a “neutral” rating and a $72.00 price target for the company. Mizuho upped their price objective on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research report on Thursday, November 7th. Finally, Wedbush boosted their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $44.61.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $78.98 on Friday. The firm has a market cap of $179.92 billion, a price-to-earnings ratio of 394.92, a PEG ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80. The company’s 50 day moving average is $71.96 and its 200 day moving average is $49.04.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same period last year, the business posted $0.03 EPS. Analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal 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.