Trace Wealth Advisors LLC Invests $228,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Trace Wealth Advisors LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,020 shares of the company's stock, valued at approximately $228,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Heritage Wealth Management Inc. CA increased its holdings in Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after purchasing an additional 111 shares during the last quarter. True Wealth Design LLC increased its holdings in Palantir Technologies by 29.3% during the 4th quarter. True Wealth Design LLC now owns 503 shares of the company's stock worth $38,000 after purchasing an additional 114 shares during the last quarter. Westover Capital Advisors LLC increased its holdings in Palantir Technologies by 1.8% during the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock worth $554,000 after purchasing an additional 130 shares during the last quarter. Tritonpoint Wealth LLC increased its holdings in Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company's stock worth $537,000 after purchasing an additional 132 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC increased its holdings in Palantir Technologies by 2.2% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company's stock worth $493,000 after purchasing an additional 139 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 1.1%

Shares of PLTR stock opened at $129.52 on Friday. Palantir Technologies Inc. has a 12 month low of $20.63 and a 12 month high of $133.49. The business's 50 day moving average is $98.72 and its two-hundred day moving average is $85.13. The company has a market cap of $303.77 billion, a PE ratio of 681.72, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

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

Analyst Ratings Changes

PLTR has been the subject of several research reports. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Northland Securities lifted their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 4th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Cantor Fitzgerald lifted their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Citigroup lifted their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $83.95.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm'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 completion of the sale, the director now owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,964,290 shares of company stock valued at $250,504,866 over the last ninety days. 12.93% of the stock is owned by company insiders.

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.

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