Legacy Capital Wealth Partners LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Legacy Capital Wealth Partners LLC bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,915 shares of the company’s stock, valued at approximately $296,000.

Several other institutional investors also recently added to or reduced their stakes in PLTR. Everhart Financial Group Inc. grew its position in Palantir Technologies by 20.0% during the fourth quarter. Everhart Financial Group Inc. now owns 23,741 shares of the company’s stock worth $1,796,000 after buying an additional 3,961 shares in the last quarter. TigerOak Management L.L.C. acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $293,000. Next Level Wealth Planning LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $495,000. Salomon & Ludwin LLC acquired a new position in shares of Palantir Technologies in the fourth quarter valued at $38,000. Finally, Roxbury Financial LLC bought a new position in Palantir Technologies in the fourth quarter worth $27,000. 45.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PLTR has been the topic of several analyst reports. UBS Group boosted their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. DA Davidson raised their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group upped their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.44.

Insider Activity

In related news, insider Alexander C. Karp sold 38,093 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total value of $2,400,239.93. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $405,296,576.58. This represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,339,480 shares of company stock valued at $578,221,285. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $119.16 on Tuesday. The stock has a market capitalization of $271.45 billion, a P/E ratio of 627.19, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $120.67. The stock has a fifty day moving average of $82.84 and a 200-day moving average of $57.43.

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.