Wealthspire Advisors LLC Has $6.28 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Wealthspire Advisors LLC raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 9.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 83,016 shares of the company’s stock after acquiring an additional 6,953 shares during the period. Wealthspire Advisors LLC’s holdings in Palantir Technologies were worth $6,278,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. State Street Corp grew its stake in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Palantir Technologies by 226.2% during the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after purchasing an additional 1,969,213 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

PLTR opened at $101.33 on Monday. The firm’s fifty day moving average is $85.87 and its two-hundred day moving average is $59.84. The firm has a market cap of $230.84 billion, a PE ratio of 533.36, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now owns 512,006 shares in the company, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,671,246 shares of company stock worth $472,745,137 over the last ninety days. Company insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on PLTR shares. DA Davidson increased their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Citigroup increased their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Northland Securities increased their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. UBS Group raised their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $95.00 in a research note 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $73.21.

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.