Element Wealth LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Element Wealth LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,124 shares of the company’s stock, valued at approximately $312,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp raised its holdings 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 worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 purchasing an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after purchasing an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 worth $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings 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 worth $122,788,000 after purchasing an additional 2,984,348 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Down 4.6 %

NASDAQ:PLTR opened at $101.33 on Friday. The company’s 50-day moving average price is $85.87 and its 200-day moving average price is $59.37. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The company has a market cap of $230.84 billion, a P/E ratio of 533.36, a P/E/G ratio of 10.84 and a beta of 2.81.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction dated 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 directly owns 752,786 shares in the company, valued at $50,128,019.74. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,680,992 shares of company stock valued at $473,395,877 over the last ninety days. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PLTR. Jefferies Financial Group raised their target price 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. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Robert W. Baird raised their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $73.21.

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.