Evolution Wealth Advisors LLC Grows Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Evolution Wealth Advisors LLC boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 40.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,982 shares of the company’s stock after buying an additional 19,715 shares during the period. Palantir Technologies makes up about 0.9% of Evolution Wealth Advisors LLC’s portfolio, making the stock its 23rd biggest holding. Evolution Wealth Advisors LLC’s holdings in Palantir Technologies were worth $5,217,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its stake in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the last quarter. Financial Management Professionals Inc. boosted its stake in Palantir Technologies by 171.5% during the fourth quarter. Financial Management Professionals Inc. now owns 543 shares of the company’s stock valued at $41,000 after buying an additional 343 shares during the last quarter. Trivant Custom Portfolio Group LLC boosted its stake in Palantir Technologies by 313.3% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 620 shares of the company’s stock valued at $47,000 after buying an additional 470 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies in the 3rd quarter valued at approximately $25,000. Finally, 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 worth $27,000 after purchasing an additional 650 shares during the period. 45.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PLTR shares. Cantor Fitzgerald started coverage on Palantir Technologies in a research report on Friday, January 17th. They set a “neutral” rating and a $72.00 target price on the stock. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Wedbush boosted their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research report on Thursday, November 7th. Finally, Mizuho boosted 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. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $43.78.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This represents a 34.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 123,334 shares of the stock in a transaction dated 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 directly owns 331,369 shares of the company’s stock, valued at approximately $14,911,605. The trade was a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock worth $1,444,232,453 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $76.87 on Thursday. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The firm’s 50-day moving average is $70.98 and its two-hundred day moving average is $48.12. The stock has a market cap of $175.11 billion, a price-to-earnings ratio of 384.37, a PEG ratio of 6.73 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the business earned $0.03 EPS. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. On average, equities analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

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.