Wellington Wealth Strategies LLC. Purchases New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Wellington Wealth Strategies LLC. acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,845 shares of the company’s stock, valued at approximately $140,000.

A number of other hedge funds also recently modified their holdings of PLTR. Geode Capital Management LLC raised its position in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after acquiring an additional 3,299,779 shares during the last quarter. Norges Bank acquired a new position in Palantir Technologies in the 4th quarter worth about $1,360,191,000. FMR LLC raised its position in Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Heather A. Planishek sold 18,537 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $102.32, for a total transaction of $1,896,705.84. Following the completion of the sale, the insider now owns 493,469 shares in the company, valued at $50,491,748.08. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the completion of the transaction, the insider now owns 702,786 shares in the company, valued at approximately $64,958,509.98. This represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,964,290 shares of company stock worth $250,504,866. Corporate insiders own 9.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PLTR shares. Daiwa America raised Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. UBS Group boosted their target price on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Mizuho upped their price target on Palantir Technologies from $80.00 to $94.00 and gave the company an “underperform” rating in a research report on Tuesday, May 6th. Finally, Daiwa Capital Markets started coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective for the company. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $83.95.

Palantir Technologies Trading Down 2.5%

NASDAQ:PLTR opened at $126.33 on Tuesday. Palantir Technologies Inc. has a 12 month low of $20.63 and a 12 month high of $133.49. The stock has a market capitalization of $296.29 billion, a price-to-earnings ratio of 664.93, a PEG ratio of 10.84 and a beta of 2.68. The firm has a fifty day simple moving average of $99.57 and a two-hundred day simple moving average of $86.02.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. During the same period last year, the business posted $0.08 EPS. The firm’s revenue for the quarter was up 39.4% compared to the same quarter last year. Equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.