Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Rakuten Securities Inc.

Rakuten Securities Inc. raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 230,353 shares of the company's stock after acquiring an additional 62,812 shares during the period. Palantir Technologies makes up 6.9% of Rakuten Securities Inc.'s holdings, making the stock its 3rd biggest holding. Rakuten Securities Inc.'s holdings in Palantir Technologies were worth $17,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in PLTR. Prestige Wealth Management Group LLC increased its position in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company's stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at about $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at about $28,000. Wolff Wiese Magana LLC increased its position in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC boosted its stake in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PLTR. Baird R W raised shares of Palantir Technologies to a "hold" rating in a research note on Thursday, December 12th. Loop Capital started coverage on shares of Palantir Technologies in a research note on Thursday, February 20th. They issued a "buy" rating and a $141.00 price objective for the company. Wedbush reiterated an "outperform" rating and issued a $120.00 price target on shares of Palantir Technologies in a research note on Monday, March 3rd. Bank of America lifted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird lifted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $75.25.

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Palantir Technologies Stock Performance

Shares of PLTR stock opened at $78.05 on Wednesday. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The stock has a market capitalization of $183.06 billion, a PE ratio of 410.81, a PEG ratio of 10.84 and a beta of 2.81. The stock's fifty day moving average is $87.46 and its 200-day moving average is $64.35.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 6,776 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the transaction, the director now owns 184,617 shares of the company's stock, valued at approximately $15,993,370.71. This represents a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 416,053 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the transaction, the insider now owns 592 shares of the company's stock, valued at approximately $43,908.64. This trade represents a 99.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 985,838 shares of company stock valued at $75,333,389 over the last 90 days. 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.

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