Accel Wealth Management Grows Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Accel Wealth Management grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 6.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,542 shares of the company’s stock after buying an additional 1,151 shares during the period. Accel Wealth Management’s holdings in Palantir Technologies were worth $1,478,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PLTR. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies during the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted its stake in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares in the last quarter. First PREMIER Bank purchased a new stake in Palantir Technologies during the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC grew its stake in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies in the 2nd quarter valued at about $30,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PLTR. Morgan Stanley restated an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research report on Monday, January 6th. The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Cantor Fitzgerald started 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. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, DA Davidson raised their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.61.

Insider Buying and Selling

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total transaction of $999,200.00. Following the transaction, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $28,077,819.76. This trade represents a 3.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,518,855 shares of company stock worth $1,438,682,423 in the last ninety days. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $78.98 on Friday. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The stock has a market cap of $179.92 billion, a P/E ratio of 394.92, a P/E/G ratio of 7.08 and a beta of 2.82. The stock has a 50-day simple moving average of $71.96 and a 200-day simple moving average of $48.89.

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

Palantir Technologies Company 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.