Palantir Technologies Inc. (NASDAQ:PLTR) Stake Boosted by Wealthspire Advisors LLC

Wealthspire Advisors LLC grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,016 shares of the company’s stock after acquiring an additional 6,953 shares during the period. Wealthspire Advisors LLC’s holdings in Palantir Technologies were worth $6,278,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at $27,000. First PREMIER Bank bought a new stake in Palantir Technologies in the fourth quarter worth $28,000. Wolff Wiese Magana LLC boosted its holdings in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares in the last quarter. HighMark Wealth Management LLC boosted its holdings in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC bought a new stake in Palantir Technologies in the fourth quarter worth $31,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the transaction, the director now owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,671,246 shares of company stock valued at $472,745,137. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $101.33 on Monday. The company has a 50-day simple moving average of $85.87 and a 200-day simple moving average of $59.84. The firm has a market capitalization of $230.84 billion, a P/E ratio of 533.36, a P/E/G 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Mizuho upped their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Loop Capital assumed coverage on shares of Palantir Technologies in a report on Thursday. They issued a “buy” rating and a $141.00 price objective for the company. Citigroup upped their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Bank of America upped their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.