Golden State Wealth Management LLC Purchases New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Golden State Wealth Management LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 21,000 shares of the company’s stock, valued at approximately $1,588,000.

A number of other large investors have also recently made changes to their positions in PLTR. Tritonpoint Wealth LLC grew its position in Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after acquiring an additional 132 shares in the last quarter. Kennebec Savings Bank increased its position in shares of Palantir Technologies by 29.5% during the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after purchasing an additional 159 shares during the last quarter. RMR Wealth Builders boosted its stake in Palantir Technologies by 2.4% during the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after buying an additional 167 shares during the period. Bay Rivers Group increased its position in Palantir Technologies by 2.7% during the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after acquiring an additional 171 shares during the last quarter. Finally, Christensen King & Associates Investment Services Inc. raised its stake in shares of Palantir Technologies by 3.0% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock valued at $486,000 after acquiring an additional 174 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the transaction, the director now owns 88,129 shares in the company, valued at $9,059,661.20. The trade was a 11.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander C. Karp sold 1,823,602 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $406,004,124.96. The trade was a 22.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,656,687 shares of company stock valued at $1,040,105,687. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $111.28 on Friday. The company has a 50 day moving average price of $76.46 and a 200-day moving average price of $52.67. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $111.55. The stock has a market capitalization of $253.50 billion, a PE ratio of 556.43, a PEG ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. Palantir Technologies’s revenue was up 30.0% on a year-over-year basis. Equities research analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Analyst Ratings Changes

PLTR has been the subject of a number of recent analyst reports. DA Davidson lifted their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday. Robert W. Baird boosted their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $95.00 in a report on Tuesday. Finally, Bank of America upped their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $69.44.

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.