WESPAC Advisors LLC Acquires New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

WESPAC Advisors LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,552 shares of the company’s stock, valued at approximately $1,554,000. Palantir Technologies comprises about 1.1% of WESPAC Advisors LLC’s investment portfolio, making the stock its 19th largest position.

A number of other institutional investors have also recently bought and sold shares of PLTR. Roxbury Financial LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at $28,000. Wolff Wiese Magana LLC lifted its stake in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. HighMark Wealth Management LLC lifted its stake in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Down 4.6 %

Palantir Technologies stock opened at $101.33 on Friday. The business has a 50 day moving average price of $85.87 and a two-hundred day moving average price of $59.60. The stock has a market cap of $230.84 billion, a price-to-earnings ratio of 533.36, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $42,002.40. This represents a 99.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $66.59, for a total value of $1,997,700.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $50,128,019.74. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,680,992 shares of company stock worth $473,395,877 over the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Northland Securities boosted their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Royal Bank of Canada boosted their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. DA Davidson boosted their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Cantor Fitzgerald boosted their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $73.21.

Palantir Technologies Company Profile

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.