Pursue Wealth Partners LLC Makes New $1.74 Million Investment in Palantir Technologies Inc. (NYSE:PLTR)

Pursue Wealth Partners LLC purchased a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 101,395 shares of the company’s stock, valued at approximately $1,741,000. Palantir Technologies comprises 1.1% of Pursue Wealth Partners LLC’s holdings, making the stock its 27th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. DAVENPORT & Co LLC boosted its holdings in shares of Palantir Technologies by 8.3% during the third quarter. DAVENPORT & Co LLC now owns 55,852 shares of the company’s stock worth $894,000 after acquiring an additional 4,300 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Palantir Technologies by 0.3% during the third quarter. Handelsbanken Fonder AB now owns 381,075 shares of the company’s stock worth $6,097,000 after acquiring an additional 1,000 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of Palantir Technologies by 25.8% during the third quarter. Valeo Financial Advisors LLC now owns 30,696 shares of the company’s stock worth $491,000 after acquiring an additional 6,295 shares during the period. InTrack Investment Management Inc bought a new stake in shares of Palantir Technologies in the third quarter valued at approximately $183,000. Finally, Linden Thomas Advisory Services LLC bought a new stake in shares of Palantir Technologies in the third quarter valued at approximately $892,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Up 3.7 %

Shares of NYSE:PLTR traded up $0.81 during trading on Friday, hitting $22.52. 33,119,766 shares of the company were exchanged, compared to its average volume of 33,231,036. The business’s 50 day moving average is $23.45 and its 200-day moving average is $20.06. The company has a market capitalization of $49.83 billion, a P/E ratio of 250.25, a price-to-earnings-growth ratio of 5.52 and a beta of 2.78. Palantir Technologies Inc. has a 1-year low of $7.28 and a 1-year high of $27.50.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the company from $10.00 to $20.00 in a research note on Tuesday, February 6th. Wedbush reiterated an “outperform” rating and issued a $35.00 price target (up from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Monness Crespi & Hardt upgraded Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday. Mizuho boosted their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Finally, HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.35.

Insider Activity at Palantir Technologies

In related news, Director Peter Thiel sold 7,044,756 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the sale, the director now directly owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palantir Technologies news, insider Ryan D. Taylor sold 150,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $24.00, for a total transaction of $3,600,000.00. Following the sale, the insider now owns 181,460 shares of the company’s stock, valued at $4,355,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter Thiel sold 7,044,756 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the sale, the director now directly owns 70,806,432 shares in the company, valued at approximately $1,755,291,449.28. The disclosure for this sale can be found here. Insiders sold 7,456,273 shares of company stock worth $184,343,202 over the last three months. Company insiders own 13.96% of the company’s stock.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.