WealthShield Partners LLC Buys New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

WealthShield Partners LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, Holdings Channel.com reports. The fund purchased 3,742 shares of the company’s stock, valued at approximately $283,000.

Several other hedge funds have also made changes to their positions in the business. State Street Corp lifted its holdings in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC increased its position 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 worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after acquiring an additional 808,444 shares in the last quarter. FMR LLC raised its stake in shares of Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after acquiring an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Palantir Technologies by 60.5% in 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 period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Loop Capital started coverage on shares of Palantir Technologies in a research note on Thursday, February 20th. They set a “buy” rating and a $141.00 target price on the stock. Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group boosted their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, Citigroup raised their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $73.21.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction on Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the transaction, the director now directly owns 100,923 shares in the company, valued at $7,748,867.94. This trade represents a 9.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 752,786 shares of the company’s stock, valued at approximately $50,128,019.74. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,719,783 shares of company stock worth $477,414,743 in the last quarter. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $90.68 on Tuesday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The stock has a market capitalization of $206.57 billion, a price-to-earnings ratio of 477.29, a PEG ratio of 10.84 and a beta of 2.81. The company has a 50-day simple moving average of $86.17 and a 200-day simple moving average of $60.27.

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.