IMG Wealth Management Inc. Invests $92,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

IMG Wealth Management Inc. acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,211 shares of the company’s stock, valued at approximately $92,000.

Several other hedge funds also recently bought and sold shares of PLTR. Prestige Wealth Management Group LLC boosted its holdings in Palantir Technologies by 747.1% in the 3rd 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 period. Roxbury Financial LLC bought a new position in Palantir Technologies in the 4th quarter worth $27,000. First PREMIER Bank bought a new position in Palantir Technologies in the 4th quarter worth $28,000. Wolff Wiese Magana LLC boosted its holdings in 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 buying an additional 265 shares during the period. Finally, HighMark Wealth Management LLC boosted its holdings in Palantir Technologies by 73.5% in the 4th 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 period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $86.24 on Monday. The firm has a market cap of $202.26 billion, a PE ratio of 453.92, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The firm’s 50 day simple moving average is $87.83 and its 200-day simple moving average is $65.46. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $50,497.60. This trade represents a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,069,785 shares of company stock valued at $254,537,238. 12.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Mizuho increased their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Loop Capital dropped their price objective on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a report on Thursday. Wedbush reissued an “outperform” rating and set a $120.00 price objective on shares of Palantir Technologies in a report on Monday, March 3rd. Finally, Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $74.45.

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.