Pinnacle Wealth Planning Services Inc. Makes New $210,000 Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Pinnacle Wealth Planning Services Inc. bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,775 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors have also modified their holdings of the stock. Continuum Advisory LLC raised its holdings in Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after purchasing an additional 98 shares in the last quarter. Heritage Wealth Management Inc. CA increased its position in shares of Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after purchasing an additional 111 shares during the period. True Wealth Design LLC increased its position in shares of Palantir Technologies by 29.3% during the 4th quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after purchasing an additional 114 shares during the period. Westover Capital Advisors LLC raised its stake in shares of Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after buying an additional 130 shares in the last quarter. Finally, Tritonpoint Wealth LLC lifted its holdings in shares of Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after buying an additional 132 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wedbush set a $140.00 target price on Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Northland Securities lifted their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Loop Capital increased their target price on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 target price for the company. Finally, Morgan Stanley upped their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $83.95.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 3,936 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $495,817.92. Following the completion of the sale, the insider now directly owns 363,755 shares of the company’s stock, valued at $45,822,217.35. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at $48,988. This represents a 99.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,901,701 shares of company stock valued at $370,407,533. Insiders own 9.23% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR opened at $123.39 on Wednesday. The company has a market capitalization of $289.39 billion, a price-to-earnings ratio of 649.46, a P/E/G ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a fifty-two week low of $20.64 and a fifty-two week high of $133.49. The business’s 50-day moving average is $104.13 and its 200-day moving average is $88.73.

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