Cabot Wealth Management Inc. Purchases Shares of 3,597 Palantir Technologies Inc. (NASDAQ:PLTR)

Cabot Wealth Management Inc. purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,597 shares of the company's stock, valued at approximately $272,000.

Several other large investors have also recently added to or reduced their stakes in PLTR. State Street Corp grew its position in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company's stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC boosted its stake in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company's stock valued at $122,788,000 after buying an additional 2,984,348 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Palantir Technologies by 226.2% in the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company's stock valued at $105,636,000 after buying an additional 1,969,213 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

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Palantir Technologies Stock Performance

NASDAQ:PLTR traded up $1.47 during trading hours on Wednesday, hitting $89.31. The stock had a trading volume of 94,292,848 shares, compared to its average volume of 94,723,617. The business's 50 day moving average is $86.44 and its 200-day moving average is $60.68. The company has a market cap of $203.45 billion, a price-to-earnings ratio of 470.08, 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.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 752,786 shares of the company's stock, valued at approximately $50,128,019.74. The trade was a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was 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 of the company's stock, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,719,783 shares of company stock valued at $477,414,743 in the last quarter. Company insiders own 12.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. 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 report on Tuesday, February 4th. Bank of America increased their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Baird R W upgraded shares of Palantir Technologies to a "hold" rating in a research report on Thursday, December 12th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group lifted their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $73.21.

Palantir Technologies Company 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.