Facet Wealth Inc. Invests $291,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Facet Wealth Inc. acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 3,852 shares of the company’s stock, valued at approximately $291,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mather Group LLC. increased its stake in shares of Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after purchasing an additional 448 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of 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 worth $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake 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 worth $3,233,000. Finally, Coldstream Capital Management Inc. purchased a new stake in shares of Palantir Technologies in the third quarter worth $639,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Northland Securities upped their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Citigroup upped their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. DA Davidson upped their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, UBS Group upped their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $74.45.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $85.30, for a total value of $106,625,000.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at $50,497.60. This trade represents a 99.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,069,785 shares of company stock worth $254,537,238. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Trading Up 8.3 %

Palantir Technologies stock opened at $86.24 on Friday. The firm has a 50-day moving average price of $87.83 and a 200-day moving average price of $65.22. The firm has a market capitalization of $202.26 billion, a PE ratio of 453.92, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41.

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.