Rialto Wealth Management LLC Takes $84,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Rialto Wealth Management LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,106 shares of the company’s stock, valued at approximately $84,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Mather Group LLC. lifted its holdings in shares of Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after purchasing an additional 448 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $876,000. Destiny Wealth Partners LLC purchased a new position in Palantir Technologies in the 4th quarter valued at $3,233,000. Finally, Oppenheimer & Co. Inc. increased its stake in Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after buying an additional 87,062 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on PLTR. Wedbush restated an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a research note on Monday, March 3rd. Bank of America raised their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald boosted their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Northland Securities lifted their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Finally, Loop Capital initiated coverage on Palantir Technologies in a report on Thursday, February 20th. They set a “buy” rating and a $141.00 price objective on the stock. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $74.79.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the sale, the insider now owns 170,273 shares in the company, valued at approximately $12,681,933.04. This trade represents a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the transaction, the insider now owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,435,838 shares of company stock worth $107,260,889. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $85.07 on Friday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The business’s fifty day moving average price is $87.43 and its two-hundred day moving average price is $63.49. The stock has a market cap of $199.51 billion, a PE ratio of 447.74, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

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.