Drive Wealth Management LLC Buys New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Drive Wealth Management LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 3,466 shares of the company’s stock, valued at approximately $262,000.

A number of other institutional investors have also recently added to or reduced their stakes in PLTR. Thrivent Financial for Lutherans grew its position in Palantir Technologies by 20.9% during the second quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock valued at $1,336,000 after acquiring an additional 9,109 shares during the period. ProShare Advisors LLC grew its position in Palantir Technologies by 14.9% during the second quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock valued at $332,000 after acquiring an additional 1,702 shares during the period. AXA S.A. grew its position in Palantir Technologies by 443.5% during the second quarter. AXA S.A. now owns 116,302 shares of the company’s stock valued at $2,946,000 after acquiring an additional 94,903 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in Palantir Technologies during the second quarter valued at about $381,000. Finally, Nemes Rush Group LLC grew its position in Palantir Technologies by 28.3% during the second quarter. Nemes Rush Group LLC now owns 10,196 shares of the company’s stock valued at $258,000 after acquiring an additional 2,250 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. This represents a 41.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,181,807 shares of company stock worth $1,288,448,522. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Down 4.5 %

Shares of NASDAQ PLTR opened at $75.43 on Tuesday. The stock’s 50 day moving average price is $71.96 and its two-hundred day moving average price is $49.18. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80. The stock has a market capitalization of $171.82 billion, a P/E ratio of 377.15, a PEG ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (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 firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Northland Securities boosted their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research report on Thursday, November 7th. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. UBS Group initiated coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price for the company. Finally, Cantor Fitzgerald initiated coverage on Palantir Technologies in a research report on Friday, January 17th. They issued a “neutral” rating and a $72.00 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.61.

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.