Howard Wealth Management LLC Grows Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Howard Wealth Management LLC grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,045 shares of the company’s stock after purchasing an additional 190 shares during the quarter. Palantir Technologies makes up approximately 1.4% of Howard Wealth Management LLC’s portfolio, making the stock its 19th biggest position. Howard Wealth Management LLC’s holdings in Palantir Technologies were worth $2,499,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PLTR. State Street Corp raised its holdings 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 valued at $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised 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 valued at $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after acquiring an additional 808,444 shares in the last quarter. FMR LLC raised its holdings in shares of Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after acquiring an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings 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 valued at $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PLTR. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Cantor Fitzgerald increased their price objective on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Northland Securities increased their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $119.16 on Friday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $120.67. The stock has a market capitalization 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. The business’s fifty day moving average is $81.90 and its 200 day moving average is $56.35.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction 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 sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This trade represents a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander C. Karp sold 1,007,496 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $63.96, for a total value of $64,439,444.16. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $411,407,221.68. This trade represents a 13.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,346,976 shares of company stock valued at $642,660,729 over the last ninety days. Insiders own 12.93% of the company’s stock.

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.