Prasad Wealth Partners LLC Acquires New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Prasad Wealth Partners LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, HoldingsChannel reports. The firm acquired 59,826 shares of the company’s stock, valued at approximately $4,525,000. Palantir Technologies accounts for about 1.5% of Prasad Wealth Partners LLC’s investment portfolio, making the stock its 23rd largest holding.

Several other institutional investors have also bought and sold shares of PLTR. Tritonpoint Wealth LLC raised 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 acquiring an additional 132 shares during the period. Kennebec Savings Bank raised its holdings in 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 period. HighMark Wealth Management LLC raised its holdings in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the period. RMR Wealth Builders raised its holdings in Palantir Technologies by 2.4% during the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after acquiring an additional 167 shares during the period. Finally, Bay Rivers Group raised its holdings in Palantir Technologies by 2.7% during the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after acquiring an additional 171 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 10.5 %

PLTR opened at $90.68 on Tuesday. The stock has a market cap of $206.57 billion, a PE ratio of 477.29, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The business’s fifty day simple moving average is $86.17 and its 200 day simple moving average is $60.27.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the sale, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the sale, the director now owns 88,129 shares of the company’s stock, valued at approximately $9,059,661.20. The trade was a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,719,783 shares of company stock valued at $477,414,743 over the last 90 days. 12.93% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PLTR. Loop Capital began coverage on shares of Palantir Technologies in a report on Thursday, February 20th. They set a “buy” rating and a $141.00 target price on the stock. Northland Securities boosted their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Robert W. Baird boosted their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, UBS Group upped their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $73.21.

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.