Thrive Wealth Management LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Thrive Wealth Management LLC 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 Securities and Exchange Commission. The fund purchased 4,510 shares of the company’s stock, valued at approximately $341,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Diversify Advisory Services LLC grew its holdings in Palantir Technologies by 29.1% during the 4th quarter. Diversify Advisory Services LLC now owns 24,575 shares of the company’s stock worth $1,859,000 after acquiring an additional 5,533 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in Palantir Technologies during the 4th quarter worth approximately $876,000. RoundAngle Advisors LLC acquired a new position in Palantir Technologies during the 4th quarter worth approximately $819,000. Successful Portfolios LLC acquired a new position in Palantir Technologies during the 4th quarter worth approximately $257,000. Finally, Murphy Middleton Hinkle & Parker Inc. acquired a new position in Palantir Technologies during the 4th quarter worth approximately $279,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PLTR. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Mizuho upped their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Cantor Fitzgerald began coverage on shares of Palantir Technologies in a report on Friday. They issued a “neutral” rating and a $72.00 target price for the company. Finally, Northland Securities upped their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average target price of $43.78.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $42,002.40. This represents a 99.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the insider now directly owns 331,369 shares in the company, valued at approximately $14,911,605. The trade was a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,642,189 shares of company stock worth $1,444,232,453 in the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $71.77 on Monday. The company has a market cap of $163.49 billion, a P/E ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a one year low of $16.03 and a one year high of $84.80. The firm has a fifty day moving average of $70.49 and a two-hundred day moving average of $47.32.

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 during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

About Palantir Technologies

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.