Acorn Wealth Advisors LLC Invests $263,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Acorn Wealth Advisors LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,479 shares of the company’s stock, valued at approximately $263,000.

A number of other hedge funds have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Palantir Technologies by 227.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 122,200 shares of the company’s stock valued at $4,546,000 after buying an additional 84,856 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Palantir Technologies by 80.2% in the third quarter. Assenagon Asset Management S.A. now owns 37,012 shares of the company’s stock valued at $1,377,000 after acquiring an additional 16,469 shares in the last quarter. Allworth Financial LP boosted its stake in Palantir Technologies by 8.3% during the 3rd quarter. Allworth Financial LP now owns 24,590 shares of the company’s stock valued at $915,000 after acquiring an additional 1,891 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Palantir Technologies by 2,252.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,645 shares of the company’s stock worth $6,323,000 after acquiring an additional 164,349 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Palantir Technologies by 17.3% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 12,829 shares of the company’s stock worth $477,000 after acquiring an additional 1,892 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the transaction, the insider now directly owns 702,786 shares in the company, valued at approximately $64,958,509.98. The trade was a 4.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,719,783 shares of company stock valued at $477,414,743 in the last three months. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PLTR has been the topic of several research analyst reports. Bank of America increased their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $73.21.

Palantir Technologies Trading Down 3.1 %

Shares of NASDAQ:PLTR opened at $87.84 on Wednesday. The firm’s 50 day moving average is $86.44 and its two-hundred day moving average is $60.68. The firm has a market capitalization of $200.10 billion, a P/E ratio of 462.34, a PEG 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.

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.