Wellington Wealth Strategies LLC. Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Wellington Wealth Strategies LLC. bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,845 shares of the company’s stock, valued at approximately $140,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Williams Jones Wealth Management LLC. bought a new stake in Palantir Technologies in the fourth quarter valued at approximately $322,000. Woodline Partners LP bought a new position in shares of Palantir Technologies during the fourth quarter worth $9,634,000. Victrix Investment Advisors acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $487,000. Vident Advisory LLC increased its position in shares of Palantir Technologies by 50.4% in the 4th quarter. Vident Advisory LLC now owns 1,423,176 shares of the company’s stock valued at $107,648,000 after buying an additional 477,038 shares in the last quarter. Finally, Visionary Wealth Advisors raised its stake in Palantir Technologies by 5.2% during the 4th quarter. Visionary Wealth Advisors now owns 22,419 shares of the company’s stock worth $1,696,000 after buying an additional 1,101 shares during the period. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Down 2.5%

PLTR stock opened at $126.33 on Tuesday. The company has a market cap of $296.29 billion, a price-to-earnings ratio of 664.93, a P/E/G ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a twelve month low of $20.63 and a twelve month high of $133.49. The business has a 50 day moving average price of $99.57 and a two-hundred day moving average price of $86.02.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley boosted their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Citigroup increased their target price on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Mizuho upped their price target on shares of Palantir Technologies from $80.00 to $94.00 and gave the company an “underperform” rating in a report on Tuesday, May 6th. Finally, Royal Bank of Canada reissued an “underperform” rating on shares of Palantir Technologies in a research 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. Based on data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $83.95.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 18,537 shares of Palantir Technologies stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $102.32, for a total transaction of $1,896,705.84. Following the completion of the transaction, the insider now directly owns 493,469 shares of the company’s stock, 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 document filed with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the completion of the transaction, the insider now directly owns 702,786 shares in the company, valued at $64,958,509.98. The trade was a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,964,290 shares of company stock worth $250,504,866. Insiders own 9.23% of the company’s stock.

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.