Lake Street Advisors Group LLC Grows Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Lake Street Advisors Group LLC lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 29.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,549 shares of the company’s stock after purchasing an additional 7,618 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Palantir Technologies were worth $2,537,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLTR. State Street Corp increased its stake in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Palantir Technologies by 60.5% in 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. Lord Abbett & CO. LLC raised its stake in Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Palantir Technologies by 226.2% in the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after purchasing an additional 1,969,213 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $87.84 on Wednesday. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The stock has a market capitalization of $200.10 billion, a PE ratio of 462.34, a PEG ratio of 10.84 and a beta of 2.81. The business’s 50-day moving average is $86.44 and its 200 day moving average is $60.68.

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 5,250,000 shares of the company’s 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 transaction, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction on Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the sale, the director now owns 100,923 shares in the company, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,719,783 shares of company stock worth $477,414,743. 12.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. DA Davidson increased their target price on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Citigroup upped their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued 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 price target of $73.21.

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.