NewEdge Wealth LLC Purchases 5,152 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

NewEdge Wealth LLC raised its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 34.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 19,969 shares of the company’s stock after purchasing an additional 5,152 shares during the quarter. NewEdge Wealth LLC’s holdings in Palantir Technologies were worth $1,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mather Group LLC. lifted its stake in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after purchasing an additional 448 shares during the last quarter. Charles Schwab Investment Management Inc. lifted 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 buying an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $876,000. Destiny Wealth Partners LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $3,233,000. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after acquiring an additional 87,062 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PLTR shares. Cantor Fitzgerald raised their price target on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. UBS Group raised their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Loop Capital assumed coverage on shares of Palantir Technologies in a research note on Thursday, February 20th. They issued a “buy” rating and a $141.00 price target on the stock. Northland Securities raised their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $73.21.

Palantir Technologies Stock Up 0.1 %

PLTR opened at $84.86 on Friday. The stock has a market capitalization of $193.31 billion, a price-to-earnings ratio of 446.64, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The company has a 50-day simple moving average of $87.09 and a 200 day simple moving average of $61.65.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the sale, the director now owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This trade represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,689,783 shares of company stock worth $475,417,043. 12.93% of the stock is currently 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.