Prakash Investment Advisors LLC Makes New $216,000 Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Prakash Investment Advisors LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,855 shares of the company’s stock, valued at approximately $216,000.

Other institutional investors also recently modified their holdings of the company. Prestige Wealth Management Group LLC raised its stake in shares of 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 acquiring an additional 650 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth about $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC raised its stake in shares of 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 acquiring an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC raised its stake in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of research analyst reports. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. Citigroup boosted their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. DA Davidson boosted their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Finally, Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.21.

Insider Activity

In other news, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the transaction, the insider now owns 512,006 shares in the company, valued at $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,680,992 shares of company stock worth $473,395,877 over the last quarter. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $106.27 on Friday. The stock has a market cap of $242.09 billion, a P/E ratio of 559.35, a P/E/G ratio of 11.52 and a beta of 2.81. The firm has a 50 day moving average price of $85.36 and a 200 day moving average price of $58.84. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41.

Palantir Technologies Company 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.