StoneCrest Wealth Management Inc. Buys Shares of 7,208 Palantir Technologies Inc. (NASDAQ:PLTR)

StoneCrest Wealth Management Inc. purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 7,208 shares of the company’s stock, valued at approximately $545,000.

Other hedge funds have also made changes to their positions in the company. RMR Wealth Builders boosted its position in Palantir Technologies by 2.4% during the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after purchasing an additional 167 shares during the period. Christensen King & Associates Investment Services Inc. boosted its holdings in shares of Palantir Technologies by 3.0% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after buying an additional 174 shares during the period. ST Germain D J Co. Inc. grew its stake in Palantir Technologies by 4.4% in the 4th quarter. ST Germain D J Co. Inc. now owns 4,780 shares of the company’s stock valued at $362,000 after buying an additional 200 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV raised its holdings in Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after acquiring an additional 235 shares during the period. Finally, Greater Midwest Financial Group LLC lifted its position in Palantir Technologies by 0.3% during the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PLTR shares. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research report on Thursday, November 7th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Robert W. Baird assumed coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price for the company. Finally, Wedbush boosted their price target on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Seven research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.12.

Palantir Technologies Trading Up 1.8 %

Shares of Palantir Technologies stock opened at $69.34 on Friday. The stock has a market capitalization of $157.95 billion, a price-to-earnings ratio of 346.70, a P/E/G ratio of 6.24 and a beta of 2.82. The firm’s 50-day moving average price is $69.95 and its two-hundred day moving average price is $46.69. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the company earned $0.03 EPS. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 123,334 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the sale, the insider now owns 331,369 shares of the company’s stock, valued at $14,911,605. This represents a 27.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is owned by corporate insiders.

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.