Main Street Research LLC Raises Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Main Street Research LLC boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 897,720 shares of the company’s stock after buying an additional 4,919 shares during the quarter. Palantir Technologies makes up about 4.2% of Main Street Research LLC’s holdings, making the stock its 3rd biggest holding. Main Street Research LLC’s holdings in Palantir Technologies were worth $67,895,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. New Insight Wealth Advisors bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $223,000. NBT Bank N A NY bought a new position in Palantir Technologies in the 4th quarter worth $53,000. SLT Holdings LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter worth about $376,000. Sowell Financial Services LLC boosted its stake in shares of Palantir Technologies by 142.3% during the 4th quarter. Sowell Financial Services LLC now owns 55,910 shares of the company’s stock valued at $4,228,000 after purchasing an additional 32,831 shares in the last quarter. Finally, Argentarii LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at about $374,000. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. William Blair raised Palantir Technologies from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 5th. Wedbush restated an “outperform” rating and set a $120.00 price target on shares of Palantir Technologies in a research report on Monday, March 3rd. 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. Bank of America boosted their target price 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. Finally, Citigroup lifted their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $74.79.

Palantir Technologies Trading Up 5.7 %

Palantir Technologies stock opened at $85.07 on Monday. The firm has a market cap of $199.51 billion, a price-to-earnings ratio of 447.74, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The stock has a fifty day simple moving average of $87.43 and a two-hundred day simple moving average of $63.71.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $42,002.40. This represents a 99.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the transaction, the insider now owns 170,273 shares in the company, valued at approximately $12,681,933.04. This trade represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,435,838 shares of company stock worth $107,260,889. 12.93% of the stock is owned by corporate insiders.

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.