Philip James Wealth Mangement LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Philip James Wealth Mangement LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,925 shares of the company’s stock, valued at approximately $221,000.

Other institutional investors have also modified their holdings of the company. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies in the fourth quarter worth $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies in the fourth quarter worth $28,000. Wolff Wiese Magana LLC grew its stake in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Palantir Technologies in the fourth quarter worth $31,000. Finally, R Squared Ltd acquired a new position in shares of Palantir Technologies in the fourth quarter worth $33,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $119.16 on Monday. The company has a 50-day simple moving average of $81.90 and a 200-day simple moving average of $56.77. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $120.67. The stock has a market capitalization of $271.45 billion, a price-to-earnings ratio of 627.19, a PEG ratio of 11.44 and a beta of 2.81.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Mizuho boosted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. UBS Group boosted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Citigroup boosted their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Northland Securities boosted their target price 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. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $69.44.

Insider Activity

In related news, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 38,093 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $405,296,576.58. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,339,480 shares of company stock valued at $578,221,285. Insiders own 12.93% 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.