Savvy Advisors Inc. Has $895,000 Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Savvy Advisors Inc. raised its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 77.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,835 shares of the company's stock after acquiring an additional 5,172 shares during the quarter. Savvy Advisors Inc.'s holdings in Palantir Technologies were worth $895,000 as of its most recent SEC filing.

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

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Palantir Technologies Price Performance

Shares of NASDAQ PLTR traded up $5.78 during midday trading on Tuesday, reaching $98.40. 117,035,424 shares of the stock were exchanged, compared to its average volume of 72,009,046. The company has a market capitalization of $230.78 billion, a price-to-earnings ratio of 517.92, a P/E/G ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The business has a 50-day simple moving average of $92.63 and a two-hundred day simple moving average of $73.66.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PLTR shares. Morgan Stanley upgraded shares of Palantir Technologies from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Northland Securities increased their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. Citigroup boosted their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Bank of America boosted their target price 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. Finally, Wedbush reissued an "outperform" rating and issued a $120.00 price target on shares of Palantir Technologies in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $74.95.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the transaction, the director now directly owns 88,129 shares in the company, valued at $9,059,661.20. The trade was a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. This trade represents a 19.58 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,989,975 shares of company stock valued at $253,328,090. 12.93% of the stock is owned by insiders.

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.