WESPAC Advisors SoCal LLC Increases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

WESPAC Advisors SoCal LLC grew its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 177.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 18,010 shares of the company’s stock after purchasing an additional 11,510 shares during the period. WESPAC Advisors SoCal LLC’s holdings in Palantir Technologies were worth $1,362,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $876,000. Destiny Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $3,233,000. State of Alaska Department of Revenue raised its holdings in shares of 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 valued at $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after buying an additional 87,062 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Mizuho raised their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday. Jefferies Financial Group raised their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday. Northland Securities raised their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $95.00 in a report on Tuesday. Finally, DA Davidson raised their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $57.11.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total value of $247,635,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $353,967,157.74. This trade represents a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $50,128,019.74. This represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,153,753 shares of company stock valued at $1,287,042,675 over the last three months. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Trading Up 1.5 %

PLTR stock opened at $83.74 on Tuesday. The firm has a 50 day moving average of $73.71 and a 200-day moving average of $51.00. The firm has a market capitalization of $190.76 billion, a P/E ratio of 418.72, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a 12 month low of $16.48 and a 12 month high of $85.22.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for 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%. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share. Sell-side analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

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.