Drive Wealth Management LLC Invests $262,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Drive Wealth Management LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,466 shares of the company’s stock, valued at approximately $262,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Peak Financial Management Inc. acquired a new position in Palantir Technologies during the fourth quarter worth approximately $234,000. Requisite Capital Management LLC acquired a new position in Palantir Technologies during the fourth quarter worth approximately $843,000. 1834 Investment Advisors Co. acquired a new position in Palantir Technologies during the fourth quarter worth approximately $326,000. Embree Financial Group increased its position in Palantir Technologies by 337.6% during the fourth quarter. Embree Financial Group now owns 24,266 shares of the company’s stock worth $1,835,000 after buying an additional 18,721 shares during the period. Finally, Avaii Wealth Management LLC acquired a new position in Palantir Technologies during the fourth quarter worth approximately $250,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Cantor Fitzgerald initiated coverage on Palantir Technologies in a research report on Friday, January 17th. They set a “neutral” rating and a $72.00 price target on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a research note on Monday, January 6th. UBS Group initiated coverage on Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price on the stock. Mizuho lifted their target price on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Finally, Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research note on Thursday, November 7th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.61.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the business’s 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 directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,181,807 shares of company stock valued at $1,288,448,522 over the last three months. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

PLTR opened at $75.43 on Tuesday. The business’s fifty day moving average is $71.96 and its two-hundred day moving average is $49.18. The company has a market cap of $171.82 billion, a price-to-earnings ratio of 377.15, a PEG ratio of 7.08 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.

Palantir Technologies (NASDAQ:PLTR) last posted its 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 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. On average, analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

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.