Cabot Wealth Management Inc. Acquires New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Cabot Wealth Management Inc. bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, Holdings Channel.com reports. The fund bought 3,597 shares of the company’s stock, valued at approximately $272,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. raised its position in shares of Palantir Technologies by 101.4% during the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after purchasing an additional 448 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Palantir Technologies in the fourth quarter worth $876,000. Destiny Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at $3,233,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after acquiring an additional 68,945 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Down 4.6 %

Palantir Technologies stock opened at $101.33 on Friday. The firm has a fifty day moving average of $85.87 and a 200-day moving average of $59.60. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The firm has a market capitalization of $230.84 billion, a P/E ratio of 533.36, a PEG ratio of 10.84 and a beta of 2.81.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PLTR. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. UBS Group lifted 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. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.21.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $50,128,019.74. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,680,992 shares of company stock valued at $473,395,877. Company insiders own 12.93% of the company’s stock.

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.