Covenant Asset Management LLC Takes $201,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Covenant Asset Management LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,654 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. lifted its holdings in shares of Palantir Technologies by 101.4% during the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after purchasing an additional 448 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Palantir Technologies by 60.5% in 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. Diversify Wealth Management LLC purchased a new position in Palantir Technologies in the 4th quarter worth $876,000. Destiny Wealth Partners LLC purchased a new position in Palantir Technologies in the 4th quarter worth $3,233,000. Finally, State of Alaska Department of Revenue raised its stake in Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after acquiring an additional 68,945 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 1.1 %

Shares of Palantir Technologies stock opened at $119.16 on Friday. The firm has a market capitalization of $271.45 billion, a PE ratio of 627.19, a P/E/G ratio of 11.44 and a beta of 2.81. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $120.67. The firm’s 50-day moving average price is $81.90 and its 200 day moving average price is $56.35.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 1,007,496 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $63.96, for a total value of $64,439,444.16. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $411,407,221.68. This trade represents a 13.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $50,128,019.74. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,346,976 shares of company stock valued at $642,660,729. 12.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PLTR shares. DA Davidson raised their target price on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Robert W. Baird raised their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Mizuho increased their price target on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Wedbush increased their price target on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Northland Securities increased their price target 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. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.44.

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.