Elevation Wealth Partners LLC Raises Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Elevation Wealth Partners LLC raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 64.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 511 shares of the company’s stock after acquiring an additional 200 shares during the quarter. Elevation Wealth Partners LLC’s holdings in Palantir Technologies were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in Palantir Technologies by 96.4% in 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 period. Geode Capital Management LLC boosted its holdings in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after buying an additional 808,444 shares during the period. FMR LLC increased its stake in shares of Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after acquiring an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Down 0.4 %

Shares of PLTR stock opened at $110.85 on Monday. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $116.30. The stock has a market capitalization of $252.52 billion, a P/E ratio of 583.45, a P/E/G ratio of 11.44 and a beta of 2.81. The firm’s 50 day moving average is $77.34 and its 200 day moving average is $53.42.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLTR. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Citigroup upped their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Mizuho increased their target price on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, UBS Group raised their price target on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $69.44.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the sale, the director now owns 88,129 shares of the company’s stock, valued at $9,059,661.20. This represents a 11.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,656,687 shares of company stock valued at $1,040,105,687 in the last ninety days. 12.93% of the stock is currently owned by company insiders.

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.