TrueWealth Advisors LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

TrueWealth Advisors LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,701 shares of the company’s stock, valued at approximately $582,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. RMR Wealth Builders raised its holdings in shares of Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after purchasing an additional 167 shares during the last quarter. Christensen King & Associates Investment Services Inc. raised its stake in Palantir Technologies by 3.0% in the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock valued at $486,000 after acquiring an additional 174 shares during the period. ST Germain D J Co. Inc. raised its position in shares of Palantir Technologies by 4.4% in the fourth quarter. ST Germain D J Co. Inc. now owns 4,780 shares of the company’s stock valued at $362,000 after purchasing an additional 200 shares during the period. Walter & Keenan Wealth Management LLC IN ADV lifted its position in shares of Palantir Technologies by 1.2% during the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after acquiring an additional 235 shares in the last quarter. Finally, Greater Midwest Financial Group LLC lifted its holdings in Palantir Technologies by 0.3% during the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $71.77 on Friday. The stock has a market cap of $163.49 billion, a price-to-earnings ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The firm’s 50-day moving average is $70.49 and its 200 day moving average is $47.17.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly 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. The company 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 firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share. On average, equities analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 123,334 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was 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 $14,911,605. The trade was a 27.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the transaction, the director now owns 100,923 shares in the company, valued at $7,748,867.94. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. Company insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PLTR. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Morgan Stanley reaffirmed an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research note on Monday, January 6th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, UBS Group initiated coverage on Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price for the company. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $43.78.

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.