Keystone Financial Group Boosts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Keystone Financial Group boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,209 shares of the company's stock after acquiring an additional 16,055 shares during the period. Palantir Technologies accounts for about 1.8% of Keystone Financial Group's holdings, making the stock its 11th biggest position. Keystone Financial Group's holdings in Palantir Technologies were worth $18,420,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLTR. Norges Bank purchased a new stake in Palantir Technologies in the fourth quarter valued at approximately $1,360,191,000. Geode Capital Management LLC raised its position in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Invesco Ltd. grew its position in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Palantir Technologies in the fourth quarter worth $240,236,000. Institutional investors own 45.65% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. DA Davidson dropped their price target on Palantir Technologies from $105.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday. Royal Bank of Canada boosted their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Northland Securities increased their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research report on Tuesday, February 4th. Jefferies Financial Group boosted their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Finally, Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and a consensus target price of $74.95.

Palantir Technologies Trading Up 6.2 %

NASDAQ PLTR traded up $5.78 during trading on Tuesday, hitting $98.40. The company had a trading volume of 117,035,424 shares, compared to its average volume of 72,009,172. The company's fifty day moving average is $92.38 and its 200-day moving average is $73.83. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The company has a market cap of $230.78 billion, a price-to-earnings ratio of 517.92, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares of the company's stock, valued at $4,983,793.75. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the business's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the sale, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. This trade represents a 19.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,989,975 shares of company stock valued at $253,328,090 over the last three months. Corporate insiders own 12.93% of the company's stock.

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.