Wells Fargo & Company MN Boosts Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Posted by Defense World Staff on Jun 11th, 2023

Wells Fargo & Company MN boosted its holdings in Palantir Technologies Inc. (NYSE:PLTR – Get Rating) by 21.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,240,374 shares of the company’s stock after buying an additional 1,096,192 shares during the quarter. Wells Fargo & Company MN owned approximately 0.30% of Palantir Technologies worth $40,063,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PLTR. Exos TFP Holdings LLC acquired a new stake in shares of Palantir Technologies during the third quarter worth about $35,000. Romano Brothers AND Company acquired a new stake in Palantir Technologies in the fourth quarter valued at about $39,000. Guardian Wealth Advisors LLC acquired a new stake in Palantir Technologies in the third quarter valued at about $47,000. Allworth Financial LP lifted its position in Palantir Technologies by 54.2% in the fourth quarter. Allworth Financial LP now owns 7,381 shares of the company’s stock valued at $47,000 after purchasing an additional 2,594 shares during the period. Finally, Kistler Tiffany Companies LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 31.90% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 7,000 shares of the stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $7.85, for a total transaction of $54,950.00. Following the transaction, the director now owns 206,830 shares of the company’s stock, valued at $1,623,615.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Alexander D. Moore sold 21,900 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $8.35, for a total transaction of $182,865.00. Following the sale, the director now owns 1,880,052 shares in the company, valued at $15,698,434.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $7.85, for a total transaction of $54,950.00. Following the completion of the sale, the director now owns 206,830 shares in the company, valued at approximately $1,623,615.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,947,828 shares of company stock valued at $27,292,172. Insiders own 13.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PLTR shares. DA Davidson started coverage on shares of Palantir Technologies in a research report on Tuesday, February 28th. They set a “neutral” rating and a $8.00 price target for the company. Credit Suisse Group reiterated a “neutral” rating and set a $11.00 price target on shares of Palantir Technologies in a research report on Wednesday, February 15th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Monday, March 27th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Palantir Technologies from $6.00 to $7.00 in a research note on Tuesday, May 9th. Finally, The Goldman Sachs Group dropped their price objective on shares of Palantir Technologies from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday, February 14th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average target price of $8.88.

Palantir Technologies Trading Down 1.1 %

Shares of PLTR opened at $15.02 on Friday. The company’s fifty day moving average is $10.26 and its two-hundred day moving average is $8.49. Palantir Technologies Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $17.16.

Palantir Technologies (NYSE:PLTR – Get Rating) last posted its quarterly earnings data on Monday, May 8th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $525.19 million during the quarter, compared to analysts’ expectations of $504.84 million. Palantir Technologies had a negative net margin of 12.88% and a negative return on equity of 12.48%. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.05 EPS for the current fiscal year.

Palantir Technologies Profile

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.

Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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