Lake Street Advisors Group LLC Increases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Lake Street Advisors Group LLC grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 29.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,549 shares of the company’s stock after buying an additional 7,618 shares during the period. Lake Street Advisors Group LLC’s holdings in Palantir Technologies were worth $2,537,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tritonpoint Wealth LLC boosted its holdings in Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after purchasing an additional 132 shares during the last quarter. Twin Peaks Wealth Advisors LLC raised its stake in Palantir Technologies by 2.2% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock valued at $493,000 after buying an additional 139 shares during the last quarter. Kennebec Savings Bank lifted its holdings 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 buying an additional 159 shares during the period. HighMark Wealth Management LLC boosted its stake in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the last quarter. Finally, RMR Wealth Builders grew its holdings in shares of Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after acquiring an additional 167 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 3.1 %

NASDAQ PLTR opened at $87.84 on Wednesday. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The stock has a market cap of $200.10 billion, a PE ratio of 462.34, a P/E/G ratio of 10.84 and a beta of 2.81. The stock’s 50 day moving average is $86.44 and its 200 day moving average is $60.68.

Analysts Set New Price Targets

A number of research analysts have weighed in on PLTR shares. Jefferies Financial Group increased their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. 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 research report on Tuesday, February 4th. Royal Bank of Canada upped their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Finally, Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.21.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at $50,128,019.74. This trade represents a 3.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the sale, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,719,783 shares of company stock valued at $477,414,743. 12.93% of the stock is currently owned by corporate insiders.

About Palantir Technologies

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.