Commonwealth Equity Services LLC Purchases 143,626 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Commonwealth Equity Services LLC lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 9.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,597,201 shares of the company’s stock after buying an additional 143,626 shares during the period. Commonwealth Equity Services LLC’s holdings in Palantir Technologies were worth $120,796,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. 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 4th quarter worth $27,000. First PREMIER Bank acquired a new position in Palantir Technologies in the 4th quarter worth $28,000. Wolff Wiese Magana LLC boosted its stake in Palantir Technologies by 230.4% in the 4th 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 boosted its stake in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares during the period. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Stephen Andrew Cohen sold 416,053 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the sale, the insider now owns 592 shares in the company, valued at $43,908.64. This represents a 99.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 985,838 shares of company stock worth $75,333,389. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 7.2 %

Shares of PLTR opened at $83.65 on Thursday. The stock has a market capitalization of $196.19 billion, a PE ratio of 440.29, a P/E/G ratio of 10.84 and a beta of 2.81. The firm’s 50 day moving average is $87.62 and its 200-day moving average is $64.49. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PLTR. Wedbush reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a research note on Monday, March 3rd. Royal Bank of Canada increased their price objective 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. Robert W. Baird raised their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. DA Davidson raised their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $75.25.

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.