Elite Wealth Management Inc. Has $6.53 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Elite Wealth Management Inc. reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 5.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 86,305 shares of the company’s stock after selling 5,196 shares during the quarter. Palantir Technologies comprises about 0.8% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 12th largest position. Elite Wealth Management Inc.’s holdings in Palantir Technologies were worth $6,527,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PLTR. Prestige Wealth Management Group LLC increased its position in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares in the last quarter. Roxbury Financial LLC acquired a new position in Palantir Technologies in the fourth quarter valued at about $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC raised its position in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. Finally, HighMark Wealth Management LLC lifted its holdings in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Down 4.6 %

NASDAQ PLTR opened at $101.33 on Friday. The firm has a market capitalization of $230.84 billion, a P/E ratio of 533.36, a price-to-earnings-growth ratio of 11.52 and a beta of 2.81. The firm’s fifty day moving average price is $85.87 and its two-hundred day moving average price is $59.37. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLTR. Cantor Fitzgerald increased their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Robert W. Baird increased their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group increased their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, DA Davidson boosted their price target on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $73.21.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $66.59, for a total value of $1,997,700.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $50,128,019.74. This trade represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. The trade was a 1.27 % 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 worth $473,395,877 in the last ninety days. Insiders own 12.93% of the company’s stock.

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.