Silverlake Wealth Management LLC Raises Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Silverlake Wealth Management LLC increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 6.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,836 shares of the company’s stock after purchasing an additional 338 shares during the period. Silverlake Wealth Management LLC’s holdings in Palantir Technologies were worth $441,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies during the 3rd quarter worth about $25,000. Prestige Wealth Management Group LLC increased its stake in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the last quarter. First PREMIER Bank bought a new position in Palantir Technologies in the 4th quarter worth about $28,000. Wolff Wiese Magana LLC increased its stake in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Finally, R Squared Ltd bought a new position in Palantir Technologies in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PLTR shares. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $95.00 in a research note on Tuesday. Royal Bank of Canada upped their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday. Wedbush upped their target price on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Mizuho increased their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday. Finally, Bank of America increased 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 equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $64.89.

Palantir Technologies Price Performance

PLTR opened at $103.83 on Wednesday. The stock’s 50 day simple moving average is $74.09 and its 200 day simple moving average is $51.39. Palantir Technologies Inc. has a 1 year low of $16.48 and a 1 year high of $106.91. The firm has a market cap of $236.53 billion, a price-to-earnings ratio of 519.18, a PEG ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the business posted $0.03 EPS. The business’s revenue was up 30.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the sale, the director now owns 121,390 shares of the company’s stock, valued at approximately $7,047,903.40. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,153,753 shares of company stock worth $1,287,042,675. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies 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.