Westwood Wealth Management Purchases Shares of 17,500 Palantir Technologies Inc. (NASDAQ:PLTR)

Westwood Wealth Management acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 17,500 shares of the company’s stock, valued at approximately $1,324,000. Palantir Technologies accounts for approximately 0.5% of Westwood Wealth Management’s portfolio, making the stock its 23rd biggest position.

Several other hedge funds have also modified their holdings of the stock. Janus Henderson Group PLC boosted its stake in shares of Palantir Technologies by 170.0% in the 3rd quarter. Janus Henderson Group PLC now owns 373,534 shares of the company’s stock valued at $13,897,000 after buying an additional 235,168 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Palantir Technologies in the third quarter valued at approximately $280,000. Quantinno Capital Management LP lifted its stake in Palantir Technologies by 335.0% in the third quarter. Quantinno Capital Management LP now owns 115,698 shares of the company’s stock worth $4,304,000 after acquiring an additional 89,098 shares during the last quarter. Stifel Financial Corp grew its holdings in Palantir Technologies by 1.9% during the 3rd quarter. Stifel Financial Corp now owns 948,470 shares of the company’s stock worth $35,283,000 after acquiring an additional 17,561 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Palantir Technologies by 3,106.8% in the 3rd quarter. Wellington Management Group LLP now owns 775,208 shares of the company’s stock valued at $28,838,000 after purchasing an additional 751,034 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Down 11.5 %

Shares of Palantir Technologies stock opened at $74.01 on Friday. The firm has a market cap of $173.58 billion, a price-to-earnings ratio of 389.55, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The company’s 50-day simple moving average is $92.67 and its 200-day simple moving average is $70.93.

Insiders Place Their Bets

In related news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,993,175 shares of company stock worth $253,549,610. Company insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PLTR shares. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 target price for the company. Mizuho upped their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Northland Securities boosted their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Finally, William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $75.19.

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.