Forbes Financial Planning Inc. Invests $209,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Forbes Financial Planning Inc. purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,765 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Palantir Technologies by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock worth $986,431,000 after acquiring an additional 655,815 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Palantir Technologies by 10.9% in the fourth quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock worth $971,367,000 after acquiring an additional 1,262,479 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after acquiring an additional 1,004,603 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,069,785 shares of company stock valued at $254,537,238. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of analyst reports. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Wedbush reiterated an “outperform” rating and set a $120.00 price objective on shares of Palantir Technologies in a research report on Monday, March 3rd. Northland Securities lifted their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada lifted their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $74.45.

Palantir Technologies Trading Down 4.0 %

Shares of NASDAQ PLTR opened at $83.89 on Wednesday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The stock has a fifty day simple moving average of $88.34 and a 200-day simple moving average of $66.23. The stock has a market capitalization of $196.75 billion, a PE ratio of 441.55, a PEG ratio of 10.84 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.