MGB Wealth Management LLC Takes $278,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

MGB Wealth Management LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,670 shares of the company’s stock, valued at approximately $278,000.

Several other institutional investors also recently bought and sold shares of the stock. Tritonpoint Wealth LLC boosted its holdings in shares of Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after purchasing an additional 132 shares during the last quarter. Kennebec Savings Bank lifted its position in shares of Palantir Technologies by 29.5% in the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after buying an additional 159 shares in the last quarter. RMR Wealth Builders lifted its position in shares of Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after buying an additional 167 shares in the last quarter. Bay Rivers Group boosted its stake in Palantir Technologies by 2.7% during the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after buying an additional 171 shares during the last quarter. Finally, Christensen King & Associates Investment Services Inc. grew its holdings in Palantir Technologies by 3.0% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock valued at $486,000 after buying an additional 174 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total value of $1,212,423.20. Following the completion of the sale, the director now owns 88,129 shares in the company, valued at approximately $9,059,661.20. The trade was a 11.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,833,085 shares of company stock worth $924,999,929. Insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLTR. Wedbush upped their price objective on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Citigroup lifted their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group lifted their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average target price of $69.44.

Palantir Technologies Stock Up 4.2 %

Shares of Palantir Technologies stock opened at $117.39 on Thursday. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $118.66. The company has a market capitalization of $267.42 billion, a PE ratio of 617.87, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81. The stock’s fifty day moving average is $80.12 and its two-hundred day moving average is $55.28.

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.