Sheaff Brock Investment Advisors LLC Raises Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Sheaff Brock Investment Advisors LLC grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,769 shares of the company’s stock after buying an additional 285 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Palantir Technologies were worth $1,117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLTR. State Street Corp increased its position in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying 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 valued at $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after purchasing an additional 808,444 shares during the last quarter. FMR LLC boosted its stake in Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after purchasing an additional 1,004,603 shares in the last quarter. Finally, 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 valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 38,093 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $405,296,576.58. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,339,480 shares of company stock worth $578,221,285 in the last three months. Company insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PLTR shares. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Cantor Fitzgerald lifted their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. 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 report on Tuesday, February 4th. Mizuho lifted their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, Robert W. Baird upped their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Six equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Trading Up 1.1 %

NASDAQ PLTR opened at $119.16 on Monday. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $120.67. The stock has a market cap of $271.45 billion, a price-to-earnings ratio of 627.19, a PEG ratio of 11.44 and a beta of 2.81. The company’s 50 day moving average is $81.90 and its two-hundred day moving average is $56.77.

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.