FSM Wealth Advisors LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

FSM Wealth Advisors LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,799 shares of the company’s stock, valued at approximately $263,000.

Other hedge funds also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies in the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC raised its position in 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 buying an additional 650 shares during the last quarter. First PREMIER Bank bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $28,000. Wolff Wiese Magana LLC boosted its stake in shares of 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 buying an additional 265 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Palantir Technologies in the fourth quarter valued at approximately $33,000. Institutional investors own 45.65% of the company’s stock.

Insider Activity

In related news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. This represents a 41.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the sale, the director now owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,153,753 shares of company stock worth $1,287,042,675. 12.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PLTR shares. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a report on Thursday, November 7th. Cantor Fitzgerald began coverage on Palantir Technologies in a research note on Friday, January 17th. They issued a “neutral” rating and a $72.00 target price for the company. DA Davidson lifted their price objective on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Wedbush upped their price target on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $44.61.

Palantir Technologies Price Performance

PLTR opened at $83.74 on Tuesday. The stock’s 50 day simple moving average is $73.71 and its 200 day simple moving average is $51.00. Palantir Technologies Inc. has a 1-year low of $16.48 and a 1-year high of $85.22. The stock has a market cap of $190.76 billion, a P/E ratio of 418.72, a P/E/G ratio of 7.54 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The company 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 business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 EPS. Research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

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.