Cornerstone Wealth Group LLC Buys New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Cornerstone Wealth Group LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 4,010 shares of the company’s stock, valued at approximately $303,000.

Several other hedge funds have also bought and sold shares of PLTR. First PREMIER Bank purchased a new position in Palantir Technologies during the 4th quarter valued at approximately $28,000. Wolff Wiese Magana LLC grew its holdings in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. Financial Management Professionals Inc. grew its holdings in shares of Palantir Technologies by 171.5% in the fourth quarter. Financial Management Professionals Inc. now owns 543 shares of the company’s stock valued at $41,000 after purchasing an additional 343 shares in the last quarter. Trivant Custom Portfolio Group LLC increased its position in Palantir Technologies by 313.3% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 620 shares of the company’s stock worth $47,000 after purchasing an additional 470 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies during the third quarter valued at $25,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of recent research reports. Northland Securities lifted their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. DA Davidson upped their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. Robert W. Baird assumed coverage on Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $44.61.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total transaction of $406,646.46. Following the sale, the director now owns 130,250 shares of the company’s stock, valued at $6,576,322.50. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the completion of the transaction, the insider now owns 562,006 shares of the company’s stock, valued at $28,077,819.76. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,181,807 shares of company stock valued at $1,288,448,522 over the last ninety days. 12.93% of the stock is owned by company insiders.

Palantir Technologies Trading Down 4.5 %

PLTR opened at $75.43 on Tuesday. The business’s fifty day simple moving average is $71.96 and its 200-day simple moving average is $49.18. The company has a market capitalization of $171.82 billion, a price-to-earnings ratio of 377.15, a PEG ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80.

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