Centerpoint Advisors LLC Raises Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Centerpoint Advisors LLC raised its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 22.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,725 shares of the company’s stock after purchasing an additional 500 shares during the quarter. Centerpoint Advisors LLC’s holdings in Palantir Technologies were worth $206,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander C. Karp sold 38,093 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $405,296,576.58. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,339,480 shares of company stock worth $578,221,285. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 1.1 %

Shares of NASDAQ:PLTR opened at $119.16 on Tuesday. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $120.67. The company’s 50 day moving average is $82.84 and its two-hundred day moving average is $57.43. The company has a market cap of $271.45 billion, a PE ratio of 627.19, a P/E/G ratio of 11.44 and a beta of 2.81.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PLTR. Royal Bank of Canada increased their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Northland Securities increased their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Wedbush raised 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, Bank of America boosted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.