Advisory Services Network LLC Boosts Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Advisory Services Network LLC lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 102.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 232,389 shares of the company’s stock after purchasing an additional 117,557 shares during the period. Advisory Services Network LLC’s holdings in Palantir Technologies were worth $17,576,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Citigroup upped their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Royal Bank of Canada raised their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Daiwa Capital Markets began coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price objective on the stock. Northland Securities upped their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Finally, Cantor Fitzgerald raised their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $75.19.

Palantir Technologies Stock Up 5.2 %

Shares of NASDAQ PLTR opened at $77.84 on Tuesday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The company’s 50-day simple moving average is $92.72 and its 200-day simple moving average is $71.47. The firm has a market cap of $182.56 billion, a price-to-earnings ratio of 409.71, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. This represents a 1.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $48,988. This represents a 99.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,989,975 shares of company stock worth $253,328,090. Corporate 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.