Grant Private Wealth Management Inc Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Grant Private Wealth Management Inc acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,361 shares of the company’s stock, valued at approximately $405,000.

A number of other institutional investors also recently modified their holdings of PLTR. State Street Corp lifted its stake in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Norges Bank bought a new stake in shares of Palantir Technologies during the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. Wellington Management Group LLP lifted its position in Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Palantir Technologies in the 4th quarter valued at about $240,236,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of PLTR opened at $87.45 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The business has a 50-day moving average of $92.68 and a 200 day moving average of $70.34. The firm has a market cap of $205.10 billion, a P/E ratio of 460.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,993,175 shares of company stock worth $253,549,610 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. UBS Group increased their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Citigroup upped their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Loop Capital dropped their price objective on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Finally, Daiwa Capital Markets began coverage on shares of Palantir Technologies in a report on Tuesday. They set a “neutral” rating and a $90.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.19.

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.