Alpha Wealth Funds LLC Invests $1.12 Million in Palantir Technologies Inc. (NASDAQ:PLTR)

Alpha Wealth Funds LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,787 shares of the company's stock, valued at approximately $1,118,000. Palantir Technologies comprises about 1.1% of Alpha Wealth Funds LLC's portfolio, making the stock its 18th biggest position.

Several other large investors also recently added to or reduced their stakes in the stock. Copia Wealth Management bought a new stake in Palantir Technologies during the fourth quarter worth approximately $46,000. IronOak Wealth LLC. bought a new stake in Palantir Technologies during the fourth quarter worth approximately $2,024,000. Wood Tarver Financial Group LLC bought a new stake in Palantir Technologies during the fourth quarter worth approximately $251,000. Siemens Fonds Invest GmbH grew its stake in shares of Palantir Technologies by 115.5% during the fourth quarter. Siemens Fonds Invest GmbH now owns 46,791 shares of the company's stock valued at $3,611,000 after buying an additional 25,074 shares during the last quarter. Finally, BridgePort Financial Solutions LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $188,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Up 3.5%

Shares of PLTR stock traded up $4.31 during trading hours on Friday, reaching $126.63. 185,234,367 shares of the company's stock were exchanged, compared to its average volume of 78,766,972. Palantir Technologies Inc. has a 1 year low of $21.01 and a 1 year high of $133.49. The stock has a market cap of $298.84 billion, a PE ratio of 666.51, a PEG ratio of 10.84 and a beta of 2.68. The stock's fifty day moving average price is $105.90 and its two-hundred day moving average price is $89.86.

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

Insider Activity at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the transaction, the director now owns 184,617 shares in the company, valued at $15,993,370.71. The trade was a 3.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,901,701 shares of company stock worth $370,407,533 in the last 90 days. Corporate insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of analyst reports. Robert W. Baird upped their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Morgan Stanley upped their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Northland Securities upped their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group upped 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. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $83.95.

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.