Bernard Wealth Management Corp. Purchases New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Bernard Wealth Management Corp. purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,670 shares of the company’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Roxbury Financial LLC purchased a new stake in Palantir Technologies in the fourth quarter valued at $27,000. HighMark Wealth Management LLC lifted its position in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Palantir Technologies in the fourth quarter valued at $31,000. R Squared Ltd purchased a new stake in Palantir Technologies in the fourth quarter valued at $33,000. Finally, First Command Advisory Services Inc. purchased a new stake in Palantir Technologies in the fourth quarter valued at $34,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. UBS Group upped their target price on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Bank of America upped their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Jefferies Financial Group upped their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Loop Capital upped their target price on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average target price of $83.95.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the sale, the director now owns 184,617 shares in the company, valued at $15,993,370.71. This represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,901,701 shares of company stock worth $370,407,533. 9.23% of the stock is owned by company insiders.

Palantir Technologies Stock Up 0.8%

Shares of Palantir Technologies stock opened at $123.31 on Monday. Palantir Technologies Inc. has a 52-week low of $20.64 and a 52-week high of $133.49. The company’s 50-day simple moving average is $102.66 and its 200-day simple moving average is $88.04. The firm has a market cap of $289.21 billion, a price-to-earnings ratio of 649.03, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

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

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.