Salomon & Ludwin LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Salomon & Ludwin LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, HoldingsChannel reports. The firm purchased 500 shares of the company’s stock, valued at approximately $38,000.

Other large investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies during the 3rd quarter worth about $25,000. Prestige Wealth Management Group LLC increased its holdings in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Roxbury Financial LLC purchased a new stake in Palantir Technologies during the 4th quarter worth about $27,000. First PREMIER Bank purchased a new stake in Palantir Technologies during the 4th quarter worth about $28,000. Finally, Wolff Wiese Magana LLC increased its holdings in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 1.1 %

Shares of NASDAQ PLTR opened at $119.16 on Friday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $120.67. The business has a 50-day moving average price of $81.90 and a 200 day moving average price of $56.56. The stock has a market cap of $271.45 billion, a PE ratio of 627.19, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PLTR. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. UBS Group increased their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Citigroup increased their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, Jefferies Financial Group increased their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $69.44.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 38,093 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $63.01, for a total value of $2,400,239.93. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $405,296,576.58. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,346,976 shares of company stock valued at $642,660,729. 12.93% of the stock is owned by company insiders.

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.