Avestar Capital LLC Boosts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Avestar Capital LLC increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 91.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,616 shares of the company’s stock after acquiring an additional 7,462 shares during the period. Avestar Capital LLC’s holdings in Palantir Technologies were worth $1,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mather Group LLC. lifted its stake in Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after purchasing an additional 448 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Palantir Technologies by 60.5% during the 3rd 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 purchased a new position in shares of Palantir Technologies during the 4th quarter valued at about $876,000. Destiny Wealth Partners LLC bought a new stake in Palantir Technologies in the 4th quarter worth approximately $3,233,000. Finally, State of Alaska Department of Revenue boosted its stake in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after buying an additional 68,945 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. The trade was a 41.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,833,085 shares of company stock worth $924,999,929 over the last 90 days. 12.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on PLTR shares. Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Citigroup upped their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. DA Davidson lifted their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $69.44.

Palantir Technologies Trading Up 4.2 %

Shares of Palantir Technologies stock opened at $117.39 on Thursday. The company’s fifty day simple moving average is $80.12 and its two-hundred day simple moving average is $55.28. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $118.66. The company has a market cap of $267.42 billion, a P/E ratio of 617.87, a PEG ratio of 11.44 and a beta of 2.81.

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.