MGB Wealth Management LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

MGB Wealth Management LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,670 shares of the company's stock, valued at approximately $278,000.

Other large investors have also modified their holdings of the company. First PREMIER Bank acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $28,000. Wolff Wiese Magana LLC increased its holdings in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after buying an additional 265 shares during the last quarter. R Squared Ltd acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $33,000. Elevation Wealth Partners LLC boosted its position in shares of Palantir Technologies by 64.3% during the fourth quarter. Elevation Wealth Partners LLC now owns 511 shares of the company's stock worth $39,000 after buying an additional 200 shares during the period. Finally, Valley National Advisers Inc. lifted its position in Palantir Technologies by 181.3% in the fourth quarter. Valley National Advisers Inc. now owns 512 shares of the company's stock worth $38,000 after purchasing an additional 330 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded up $1.25 on Friday, reaching $119.16. 65,372,440 shares of the stock were exchanged, compared to its average volume of 76,371,120. The firm's 50 day moving average is $81.90 and its 200-day moving average is $56.56. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $120.67. The firm has a market cap of $271.45 billion, a PE ratio of 627.19, a P/E/G ratio of 11.44 and a beta of 2.81.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $66.77, for a total transaction of $650,740.42. Following the completion of the sale, the director now directly owns 111,644 shares in the company, valued at $7,454,469.88. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alexander C. Karp sold 38,093 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the completion of the sale, the insider now owns 6,432,258 shares of the company's stock, valued at $405,296,576.58. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,346,976 shares of company stock valued at $642,660,729 in the last quarter. Insiders own 12.93% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on PLTR shares. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. DA Davidson lifted their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Morgan Stanley raised shares of Palantir Technologies from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Robert W. Baird boosted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Finally, Wedbush boosted their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $69.44.

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.