SVB Wealth LLC Makes New $3.05 Million Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

SVB Wealth LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 40,344 shares of the company’s stock, valued at approximately $3,051,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Prestige Wealth Management Group LLC increased its position in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the period. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies in the 4th quarter valued at approximately $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC raised its stake in shares of Palantir Technologies by 230.4% during 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 during the last quarter. Finally, HighMark Wealth Management LLC raised its stake in shares of Palantir Technologies by 73.5% during 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 during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 512,006 shares of the company’s stock, 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 legal filing with the SEC, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,689,783 shares of company stock valued at $475,417,043 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PLTR. Royal Bank of Canada boosted their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Loop Capital began coverage on shares of Palantir Technologies in a report on Thursday, February 20th. They issued a “buy” rating and a $141.00 target price on the stock. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Finally, Robert W. Baird boosted their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $73.21.

Palantir Technologies Trading Up 0.1 %

Shares of NASDAQ PLTR opened at $84.86 on Friday. The company’s 50-day moving average price is $87.09 and its 200 day moving average price is $61.65. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The stock has a market cap of $193.31 billion, a price-to-earnings ratio of 446.64, a PEG ratio of 10.84 and a beta of 2.81.

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.