Advisory Services Network LLC Acquires 117,557 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Advisory Services Network LLC raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 102.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 232,389 shares of the company's stock after buying an additional 117,557 shares during the quarter. Advisory Services Network LLC's holdings in Palantir Technologies were worth $17,576,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PLTR. Mather Group LLC. boosted its position in Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock valued at $67,000 after purchasing an additional 448 shares during the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth about $876,000. Destiny Wealth Partners LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at about $3,233,000. Coldstream Capital Management Inc. acquired a new position in Palantir Technologies in the third quarter worth approximately $639,000. Finally, Kieckhefer Group LLC bought a new position in Palantir Technologies during the fourth quarter valued at approximately $11,769,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Shares of PLTR stock traded down $0.04 during mid-day trading on Friday, reaching $88.55. The company's stock had a trading volume of 94,976,307 shares, compared to its average volume of 71,346,431. The firm's 50-day moving average is $92.81 and its two-hundred day moving average is $73.02. The company has a market cap of $207.68 billion, a P/E ratio of 466.08, a PEG ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41.

Analyst Upgrades and Downgrades

Several research firms have commented on PLTR. UBS Group boosted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Wedbush restated an "outperform" rating and set a $120.00 target price on shares of Palantir Technologies in a report on Monday, March 3rd. DA Davidson boosted their price target on Palantir Technologies from $47.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. William Blair set a $84.00 price objective on Palantir Technologies in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald boosted their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $75.19.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 18,537 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $102.32, for a total value of $1,896,705.84. Following the transaction, the insider now owns 493,469 shares of the company's stock, valued at $50,491,748.08. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock valued at $253,328,090 over the last quarter. 12.93% of the stock is owned by company insiders.

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.