Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Belpointe Asset Management LLC

Belpointe Asset Management LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,941 shares of the company's stock after purchasing an additional 8,884 shares during the quarter. Belpointe Asset Management LLC's holdings in Palantir Technologies were worth $5,970,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PLTR. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 8.6% in 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 purchasing an additional 4,127,306 shares during the period. Norges Bank purchased a new position in Palantir Technologies in the 4th quarter worth approximately $1,360,191,000. FMR LLC raised its stake in shares of Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Invesco Ltd. boosted its position in shares of Palantir Technologies by 31.2% during the fourth 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, Charles Schwab Investment Management Inc. increased its holdings in Palantir Technologies by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company's stock worth $986,431,000 after buying an additional 655,815 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

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Palantir Technologies Stock Up 6.2 %

NASDAQ:PLTR traded up $5.78 during midday trading on Tuesday, hitting $98.40. The stock had a trading volume of 117,035,424 shares, compared to its average volume of 72,009,046. The stock has a 50-day moving average of $92.63 and a 200 day moving average of $73.66. The company has a market capitalization of $230.78 billion, a price-to-earnings ratio of 517.92, a PEG ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company's stock, valued at $48,988. This represents a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction 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 directly owns 61,339 shares in the company, valued at $4,983,793.75. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,989,975 shares of company stock valued at $253,328,090. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PLTR. Bank of America boosted their target price 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. Loop Capital reiterated a "buy" rating on shares of Palantir Technologies in a research report on Friday, April 4th. Jefferies Financial Group boosted their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. DA Davidson reduced their price target on shares of Palantir Technologies from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Royal Bank of Canada upped their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and an average price target of $74.95.

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.