Pinnacle Wealth Planning Services Inc. Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Pinnacle Wealth Planning Services Inc. bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,775 shares of the company’s stock, valued at approximately $210,000.

Several other hedge funds have also recently bought and sold shares of PLTR. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $27,000. First PREMIER Bank acquired a new position in Palantir Technologies in the 4th quarter worth $28,000. Wolff Wiese Magana LLC increased its holdings in Palantir Technologies by 230.4% during 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 in the last quarter. HighMark Wealth Management LLC increased its holdings in Palantir Technologies by 73.5% during 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 in the last quarter. Finally, Sierra Ocean LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at about $31,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $85.07 on Friday. The firm’s fifty day moving average price is $87.31 and its two-hundred day moving average price is $62.91. The company has a market cap of $199.51 billion, a P/E ratio of 447.74, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PLTR shares. Mizuho increased their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Cantor Fitzgerald raised their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Bank of America boosted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Finally, William Blair upgraded shares of Palantir Technologies from an “underperform” rating to a “market perform” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.79.

Insider Activity at Palantir Technologies

In other news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $31,927,500.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,435,838 shares of company stock worth $107,260,889. Insiders own 12.93% of the company’s stock.

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.