Modern Wealth Management LLC Takes $576,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Modern Wealth Management LLC bought 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 (SEC). The firm bought 7,619 shares of the company’s stock, valued at approximately $576,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Mather Group LLC. raised its position in shares of Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after buying an additional 448 shares during the last quarter. Diversify Wealth Management LLC bought a new stake in Palantir Technologies in the 4th quarter valued at $876,000. Destiny Wealth Partners LLC purchased a new stake in Palantir Technologies in the 4th quarter worth $3,233,000. Coldstream Capital Management Inc. bought a new position in shares of Palantir Technologies during the 3rd quarter valued at about $639,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at about $11,769,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 4.4 %

PLTR stock opened at $92.28 on Thursday. The firm has a market cap of $216.43 billion, a price-to-earnings ratio of 485.71, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The business’s fifty day simple moving average is $91.28 and its two-hundred day simple moving average is $68.54.

Analysts Set New Price Targets

PLTR has been the subject of a number of research reports. Northland Securities increased their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. Mizuho upped their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note 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 research note on Thursday, March 13th. Finally, Cantor Fitzgerald boosted 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. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $74.45.

Insider Buying and Selling

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the company’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 sale, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $51,545.44. This represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,379,785 shares of company stock valued at $281,528,938 in the last 90 days. Company insiders own 12.93% of the company’s stock.

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.