WMG Financial Advisors LLC Takes $225,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

WMG Financial Advisors LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 2,981 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds have also made changes to their positions in the company. State Street Corp grew its stake in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC grew its stake in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after buying an additional 808,444 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Palantir Technologies by 10.9% in the 4th quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock valued at $971,367,000 after buying an additional 1,262,479 shares during the period. Finally, FMR LLC grew its stake in shares of Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Down 1.8 %

Shares of PLTR opened at $83.42 on Tuesday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The firm’s fifty day simple moving average is $87.14 and its 200-day simple moving average is $62.23. The firm has a market capitalization of $190.03 billion, a price-to-earnings ratio of 439.08, a PEG ratio of 10.84 and a beta of 2.81.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PLTR shares. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Robert W. Baird upped their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Northland Securities upped their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group upped their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.79.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the completion of the sale, the insider now owns 170,273 shares in the company, valued at $12,681,933.04. The trade was a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,439,783 shares of company stock worth $107,497,043. 12.93% of the stock is currently owned by corporate insiders.

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.