Element Wealth LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Element Wealth LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, Holdings Channel reports. The fund purchased 4,124 shares of the company’s stock, valued at approximately $312,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PLTR. Allspring Global Investments Holdings LLC grew its holdings in shares of Palantir Technologies by 227.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 122,200 shares of the company’s stock valued at $4,546,000 after purchasing an additional 84,856 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Palantir Technologies in the third quarter valued at approximately $62,000. Eastern Bank acquired a new position in shares of Palantir Technologies in the third quarter valued at approximately $112,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Palantir Technologies in the third quarter valued at approximately $284,000. Finally, International Assets Investment Management LLC grew its holdings in shares of Palantir Technologies by 3,476.2% in the third 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 in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares in the company, valued at $13,996,000.59. This represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $50,128,019.74. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,680,992 shares of company stock worth $473,395,877. Corporate insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. DA Davidson lifted their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Mizuho lifted their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Bank of America boosted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, The Goldman Sachs Group boosted their price target 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. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $73.21.

Palantir Technologies Trading Down 4.6 %

Shares of Palantir Technologies stock opened at $101.33 on Friday. The company has a fifty day simple moving average of $85.87 and a 200-day simple moving average of $59.37. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The stock has a market cap of $230.84 billion, a price-to-earnings ratio of 533.36, a PEG ratio of 10.84 and a beta of 2.81.

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.