Avidian Wealth Enterprises LLC Raises Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Avidian Wealth Enterprises LLC boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 39.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,575 shares of the company’s stock after acquiring an additional 4,977 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Palantir Technologies were worth $1,329,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies in the third quarter worth about $25,000. Prestige Wealth Management Group LLC raised its holdings in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the last quarter. First PREMIER Bank purchased a new position in Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC raised its holdings in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Palantir Technologies in the fourth quarter worth about $33,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Mizuho boosted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Finally, Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Stock Performance

PLTR stock opened at $117.39 on Thursday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $118.66. The company’s fifty day moving average price is $79.17 and its 200-day moving average price is $54.84. The company has a market capitalization of $267.42 billion, a PE ratio of 617.87, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the transaction, the director now owns 88,129 shares of the company’s stock, valued at approximately $9,059,661.20. The trade was a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $405,875,479.80. This trade represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,833,085 shares of company stock valued at $924,999,929. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies 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.