Golden State Wealth Management LLC Acquires Shares of 21,000 Palantir Technologies Inc. (NASDAQ:PLTR)

Golden State Wealth Management LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 21,000 shares of the company’s stock, valued at approximately $1,588,000.

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

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $42,002.40. This represents a 99.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $66.77, for a total transaction of $650,740.42. Following the completion of the transaction, the director now directly owns 111,644 shares in the company, valued at $7,454,469.88. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,656,687 shares of company stock worth $1,040,105,687. 12.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PLTR. The Goldman Sachs Group upped their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Wedbush lifted their price target on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Bank of America raised their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday. DA Davidson upped their price objective on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Jefferies Financial Group lifted their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Trading Up 9.8 %

PLTR opened at $111.28 on Friday. The firm’s 50 day simple moving average is $76.46 and its two-hundred day simple moving average is $52.67. The company has a market capitalization of $253.50 billion, a PE ratio of 556.43, a PEG ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $111.55.

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