West Michigan Advisors LLC Buys 1,877 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

West Michigan Advisors LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 23.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,796 shares of the company’s stock after acquiring an additional 1,877 shares during the quarter. West Michigan Advisors LLC’s holdings in Palantir Technologies were worth $741,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLTR. Prestige Wealth Management Group LLC lifted its holdings in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the period. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at $28,000. Wolff Wiese Magana LLC increased its stake in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC increased its stake in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now owns 62,139 shares in the company, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction dated 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 transaction, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. This trade represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,689,783 shares of company stock worth $475,417,043 in the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 0.1 %

Palantir Technologies stock opened at $84.86 on Friday. The firm has a market capitalization of $193.31 billion, a P/E ratio of 446.64, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The business has a 50-day moving average of $87.09 and a 200-day moving average of $61.43.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PLTR. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group raised their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Wedbush raised their target price on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group lifted their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $73.21.

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.