Cabot Wealth Management Inc. Buys New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Cabot Wealth Management Inc. purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,597 shares of the company’s stock, valued at approximately $272,000.

Other hedge funds also recently bought and sold shares of the company. State Street Corp grew its stake in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of Palantir Technologies by 943.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after acquiring an additional 2,984,348 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Palantir Technologies by 226.2% during the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock worth $105,636,000 after purchasing an additional 1,969,213 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Down 4.6 %

Shares of Palantir Technologies stock opened at $101.33 on Friday. The firm has a market cap of $230.84 billion, a price-to-earnings ratio of 533.36, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The company’s 50-day simple moving average is $85.87 and its 200-day simple moving average is $59.60.

Insiders Place Their Bets

In related news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the transaction, the director now owns 111,644 shares of the company’s stock, valued at $7,454,469.88. The trade was a 8.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,680,992 shares of company stock worth $473,395,877. Company insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group increased their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Northland Securities increased their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Royal Bank of Canada boosted their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Bank of America raised their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, Wedbush boosted their target price on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $73.21.

Palantir Technologies Company 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.