Focus Financial Network Inc. Raises Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Focus Financial Network Inc. lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 22.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,793 shares of the company’s stock after purchasing an additional 1,590 shares during the period. Focus Financial Network Inc.’s holdings in Palantir Technologies were worth $665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its holdings in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC grew 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 purchasing an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC raised its stake in Palantir Technologies by 3,476.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after purchasing an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Palantir Technologies by 60.5% in the 3rd 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. Finally, Lord Abbett & CO. LLC boosted its stake in Palantir Technologies by 943.2% in the 3rd 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 period. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PLTR. Citigroup boosted their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Royal Bank of Canada boosted their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Wedbush raised their price objective on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. UBS Group boosted their target price on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, DA Davidson lifted their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $69.44.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 1,007,496 shares of Palantir Technologies stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $63.96, for a total transaction of $64,439,444.16. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $411,407,221.68. The trade was a 13.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,833,085 shares of company stock valued at $924,999,929. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $117.39 on Thursday. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $118.66. The firm has a 50-day simple moving average of $79.17 and a two-hundred day simple moving average of $54.84. The company has a market cap of $267.42 billion, a P/E ratio of 617.87, a PEG ratio of 11.44 and a beta of 2.81.

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.