Palantir Technologies Inc. (NASDAQ:PLTR) Shares Purchased by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 36.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,806 shares of the company’s stock after purchasing an additional 2,858 shares during the period. New Wave Wealth Advisors LLC’s holdings in Palantir Technologies were worth $817,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in Palantir Technologies during the fourth quarter worth about $876,000. State of Alaska Department of Revenue raised its position in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after acquiring an additional 68,945 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after acquiring an additional 87,062 shares during the last quarter. Finally, Tyler Stone Wealth Management boosted its position in shares of Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after purchasing an additional 99,921 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

PLTR opened at $81.22 on Friday. The stock has a 50-day moving average of $73.34 and a 200-day moving average of $50.31. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80. The company has a market cap of $185.02 billion, a PE ratio of 406.12, a price-to-earnings-growth ratio of 7.29 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 quarter last year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, research analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. DA Davidson lifted their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Wedbush lifted their price target on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird initiated coverage on Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price for the company. Seven equities 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 data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $44.61.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $353,967,157.74. The trade was a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the sale, the director now owns 100,923 shares of the company’s stock, 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. Insiders sold a total of 20,181,807 shares of company stock valued at $1,288,448,522 in the last quarter. Insiders own 12.93% of the company’s stock.

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.