World Equity Group Inc. Raises Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

World Equity Group Inc. increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 53.5% in the 4th quarter, HoldingsChannel reports. The firm owned 79,124 shares of the company’s stock after acquiring an additional 27,578 shares during the quarter. Palantir Technologies makes up approximately 1.3% of World Equity Group Inc.’s holdings, making the stock its 13th largest holding. World Equity Group Inc.’s holdings in Palantir Technologies were worth $5,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Tritonpoint Wealth LLC raised its holdings in shares of Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after purchasing an additional 132 shares during the last quarter. Kennebec Savings Bank increased its holdings in Palantir Technologies by 29.5% in the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after buying an additional 159 shares in the last quarter. HighMark Wealth Management LLC increased 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 valued at $30,000 after buying an additional 166 shares in the last quarter. RMR Wealth Builders increased its holdings in Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after buying an additional 167 shares in the last quarter. Finally, Bay Rivers Group increased its holdings in Palantir Technologies by 2.7% in the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after buying an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity

In other news, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $66.59, for a total value of $1,997,700.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $50,128,019.74. The trade was a 3.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,680,992 shares of company stock valued at $473,395,877. Company insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of recent analyst reports. Bank of America lifted their price objective 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. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Mizuho boosted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, Wedbush boosted their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.21.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $101.33 on Friday. The firm has a market capitalization of $230.84 billion, a price-to-earnings ratio of 533.36, a PEG ratio of 10.84 and a beta of 2.81. The company’s 50-day moving average is $85.87 and its two-hundred day moving average is $59.60. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41.

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.