Kestra Private Wealth Services LLC Acquires 37,933 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Kestra Private Wealth Services LLC boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 10.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 394,445 shares of the company’s stock after purchasing an additional 37,933 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Palantir Technologies were worth $29,832,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PLTR. State Street Corp raised its stake in Palantir Technologies by 96.4% during 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after acquiring an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 worth $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the transaction, the director now directly owns 88,129 shares in the company, valued at $9,059,661.20. This represents a 11.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.10, for a total value of $283,950,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $405,875,479.80. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,656,687 shares of company stock worth $1,040,105,687 over the last three months. Corporate insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLTR. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Bank of America increased their price target 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. Robert W. Baird upped their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group upped their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Trading Down 0.4 %

Shares of NASDAQ PLTR opened at $110.85 on Friday. The company has a fifty day moving average price of $77.34 and a 200 day moving average price of $53.42. The firm has a market cap of $252.52 billion, a PE ratio of 583.45, a PEG ratio of 11.44 and a beta of 2.81. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $116.30.

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.