Accel Wealth Management Increases Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Accel Wealth Management lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 6.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,542 shares of the company’s stock after buying an additional 1,151 shares during the quarter. Accel Wealth Management’s holdings in Palantir Technologies were worth $1,478,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Palantir Technologies by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock worth $72,963,000 after buying an additional 278,544 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Palantir Technologies in the second quarter worth about $330,000. Thrivent Financial for Lutherans lifted its position in shares of Palantir Technologies by 20.9% in the second quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock worth $1,336,000 after buying an additional 9,109 shares in the last quarter. ProShare Advisors LLC boosted its stake in Palantir Technologies by 14.9% during the second quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock valued at $332,000 after buying an additional 1,702 shares during the last quarter. Finally, Fred Alger Management LLC grew its holdings in Palantir Technologies by 95.6% during the 2nd quarter. Fred Alger Management LLC now owns 120,153 shares of the company’s stock valued at $3,043,000 after buying an additional 58,724 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $78.98 on Friday. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The firm has a market cap of $179.92 billion, a PE ratio of 394.92, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82. The business has a fifty day simple moving average of $71.96 and a two-hundred day simple moving average of $48.89.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results 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. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 EPS. On average, research analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Activity

In other news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. The trade was a 34.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $42,002.40. The trade was a 99.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,518,855 shares of company stock worth $1,438,682,423. 12.93% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on PLTR shares. Bank of America upped their price objective on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Mizuho increased their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Wedbush boosted their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday. UBS Group initiated coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target for the company. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.61.

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.