Relyea Zuckerberg Hanson LLC Invests $375,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Relyea Zuckerberg Hanson LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, Holdings Channel reports. The fund acquired 4,952 shares of the company’s stock, valued at approximately $375,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wolff Wiese Magana LLC lifted its holdings in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies during the 3rd quarter valued at approximately $25,000. Prestige Wealth Management Group LLC boosted its holdings in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. PSI Advisors LLC increased its stake in shares of Palantir Technologies by 99.7% in the fourth quarter. PSI Advisors LLC now owns 795 shares of the company’s stock worth $60,000 after acquiring an additional 397 shares during the period. Finally, Kings Path Partners LLC purchased a new position in shares of Palantir Technologies during the fourth quarter worth $76,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 123,334 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the sale, the insider now owns 331,369 shares of the company’s stock, valued at approximately $14,911,605. The trade was a 27.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. Insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLTR. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. Bank of America upped their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Mizuho increased their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Morgan Stanley restated an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research note on Monday, January 6th. Finally, UBS Group assumed coverage on Palantir Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target on the stock. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.78.

Palantir Technologies Stock Up 2.5 %

Shares of Palantir Technologies stock traded up $1.72 during trading hours on Friday, reaching $70.96. 10,696,328 shares of the company’s stock were exchanged, compared to its average volume of 68,551,047. The business has a fifty day moving average of $70.22 and a two-hundred day moving average of $46.85. The company has a market capitalization of $161.64 billion, a P/E ratio of 354.08, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly 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. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 earnings per share. As a group, research analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current year.

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.