1776 Wealth LLC Has $12.63 Million Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

1776 Wealth LLC decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 17.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 167,054 shares of the company’s stock after selling 35,447 shares during the quarter. Palantir Technologies comprises 5.4% of 1776 Wealth LLC’s investment portfolio, making the stock its 4th largest holding. 1776 Wealth LLC’s holdings in Palantir Technologies were worth $12,634,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PLTR. Atria Investments Inc grew its stake in shares of Palantir Technologies by 7.5% in the 3rd quarter. Atria Investments Inc now owns 55,014 shares of the company’s stock valued at $2,047,000 after buying an additional 3,835 shares in the last quarter. Baker Avenue Asset Management LP acquired a new position in Palantir Technologies during the third quarter valued at approximately $210,000. Venturi Wealth Management LLC grew its holdings in Palantir Technologies by 56.5% during the third quarter. Venturi Wealth Management LLC now owns 16,799 shares of the company’s stock valued at $625,000 after purchasing an additional 6,066 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in Palantir Technologies by 68.3% during the third quarter. Nations Financial Group Inc. IA ADV now owns 18,898 shares of the company’s stock valued at $703,000 after purchasing an additional 7,666 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in Palantir Technologies by 7.8% during the third quarter. Apollon Wealth Management LLC now owns 26,119 shares of the company’s stock valued at $972,000 after purchasing an additional 1,901 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other 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 sale, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephen Andrew Cohen sold 416,053 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $43,908.64. This trade represents a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 985,838 shares of company stock valued at $75,333,389. 12.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PLTR has been the topic of several analyst reports. Bank of America increased their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Jefferies Financial Group increased their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Robert W. Baird increased their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Finally, Wedbush restated an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $75.25.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $83.65 on Thursday. The stock has a market cap of $196.19 billion, a PE ratio of 440.29, a PEG ratio of 10.84 and a beta of 2.81. The business has a fifty day moving average of $87.62 and a two-hundred day moving average of $64.49. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41.

Palantir Technologies Company 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.