Main Street Research LLC Has $67.90 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Main Street Research LLC increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 0.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 897,720 shares of the company’s stock after purchasing an additional 4,919 shares during the quarter. Palantir Technologies accounts for approximately 4.2% of Main Street Research LLC’s holdings, making the stock its 3rd largest position. Main Street Research LLC’s holdings in Palantir Technologies were worth $67,895,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PLTR. Westover Capital Advisors LLC boosted its holdings in Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after buying an additional 130 shares during the period. Tritonpoint Wealth LLC grew its holdings in Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after buying an additional 132 shares in the last quarter. Twin Peaks Wealth Advisors LLC increased its stake in Palantir Technologies by 2.2% in the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock worth $493,000 after acquiring an additional 139 shares during the last quarter. RKL Wealth Management LLC raised its holdings in shares of Palantir Technologies by 2.7% during the 4th quarter. RKL Wealth Management LLC now owns 5,689 shares of the company’s stock worth $430,000 after acquiring an additional 150 shares in the last quarter. Finally, Kennebec Savings Bank boosted its position in shares of Palantir Technologies by 29.5% during the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after acquiring an additional 159 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. UBS Group boosted their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Northland Securities increased their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. Robert W. Baird raised their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Mizuho lifted their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Five investment 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. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $74.79.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares in the company, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the sale, the director now owns 184,617 shares in the company, valued at approximately $15,993,370.71. The trade was a 3.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,435,838 shares of company stock valued at $107,260,889. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $85.07 on Monday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The firm has a market capitalization of $199.51 billion, a price-to-earnings ratio of 447.74, a PEG ratio of 10.84 and a beta of 2.81. The stock’s 50-day simple moving average is $87.43 and its 200-day simple moving average is $63.71.

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.