Soltis Investment Advisors LLC Has $738,000 Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Soltis Investment Advisors LLC boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 23.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,756 shares of the company’s stock after buying an additional 1,823 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Palantir Technologies were worth $738,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp grew its position in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Palantir Technologies by 52.9% in 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 purchasing an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Palantir Technologies by 5.7% in 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 purchasing an additional 808,444 shares during the last quarter. FMR LLC grew its position in shares of Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after purchasing an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew 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 valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 5.2 %

NASDAQ:PLTR opened at $116.65 on Tuesday. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $116.76. The firm has a 50 day moving average of $77.34 and a 200-day moving average of $53.60. The stock has a market capitalization of $265.73 billion, a P/E ratio of 613.98, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at $42,002.40. The trade was a 99.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the transaction, the director now owns 88,129 shares of the company’s stock, valued at $9,059,661.20. This trade represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,656,687 shares of company stock worth $1,040,105,687. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PLTR shares. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. UBS Group lifted their target price on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Citigroup lifted their target price on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Robert W. Baird lifted 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 equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $69.44.

Get Our Latest Stock Report on PLTR

Palantir Technologies Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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