Independent Advisor Alliance Raises Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Independent Advisor Alliance increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 90.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,530 shares of the company's stock after buying an additional 26,888 shares during the quarter. Independent Advisor Alliance's holdings in Palantir Technologies were worth $4,275,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Mather Group LLC. increased its stake in shares of Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after acquiring an additional 448 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in Palantir Technologies during the 4th quarter worth about $876,000. Destiny Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at about $3,233,000. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company's stock worth $20,146,000 after buying an additional 87,062 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $78.05 on Wednesday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The stock's fifty day moving average is $87.46 and its two-hundred day moving average is $64.35. The firm has a market capitalization of $183.06 billion, a P/E ratio of 410.81, a PEG ratio of 10.84 and a beta of 2.81.

Insider Activity

In other Palantir Technologies news, Director Alexandra W. Schiff sold 6,776 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the transaction, the director now owns 184,617 shares of the company's stock, valued at approximately $15,993,370.71. The trade was a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 416,053 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the sale, the insider now directly owns 592 shares of the company's stock, valued at $43,908.64. This trade represents a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 985,838 shares of company stock worth $75,333,389 over the last three months. Insiders own 12.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wedbush reiterated an "outperform" rating and set a $120.00 price target on shares of Palantir Technologies in a research report on Monday, March 3rd. Mizuho raised their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an "underperform" rating in a research note on Tuesday, February 4th. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Bank of America raised their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Finally, Baird R W upgraded shares of Palantir Technologies to a "hold" rating in a research report on Thursday, December 12th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $75.25.

Remove Ads

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.