Trace Wealth Advisors LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Trace Wealth Advisors LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,020 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Roxbury Financial LLC bought a new stake in Palantir Technologies in the 4th quarter valued at approximately $27,000. First PREMIER Bank bought a new stake in Palantir Technologies in the 4th quarter valued at approximately $28,000. HighMark Wealth Management LLC lifted its stake in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares in the last quarter. Sierra Ocean LLC bought a new stake in Palantir Technologies in the 4th quarter valued at approximately $31,000. Finally, R Squared Ltd bought a new stake in Palantir Technologies in the 4th quarter valued at approximately $33,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $129.52 on Friday. The company has a market cap of $303.77 billion, a P/E ratio of 681.72, a PEG ratio of 10.84 and a beta of 2.68. The stock has a 50 day simple moving average of $98.72 and a two-hundred day simple moving average of $85.13. Palantir Technologies Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $133.49.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company’s quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 earnings per share. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 6,776 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the transaction, the director now owns 184,617 shares of the company’s stock, valued at approximately $15,993,370.71. The trade was a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,964,290 shares of company stock valued at $250,504,866 over the last 90 days. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on PLTR shares. DA Davidson boosted their target price on Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Mizuho upped their price objective on Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 6th. Northland Securities upped their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Citigroup upped their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, Royal Bank of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $83.95.

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.