HighMark Wealth Management LLC Boosts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

HighMark Wealth Management LLC increased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 73.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 392 shares of the company’s stock after acquiring an additional 166 shares during the quarter. HighMark Wealth Management LLC’s holdings in Palantir Technologies were worth $30,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies during the third quarter worth about $25,000. Prestige Wealth Management Group LLC boosted its stake in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Roxbury Financial LLC purchased a new stake in Palantir Technologies during the 4th quarter valued at approximately $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $28,000. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $119.16 on Tuesday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $120.67. The stock has a market cap of $271.45 billion, a P/E ratio of 627.19, a P/E/G ratio of 11.44 and a beta of 2.81. The firm has a fifty day moving average price of $82.84 and a 200 day moving average price of $57.43.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PLTR. Bank of America lifted their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Cantor Fitzgerald upped their price objective on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Royal Bank of Canada raised their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, Robert W. Baird lifted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $69.44.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 38,093 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 6,432,258 shares in the company, 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 sold 8,339,480 shares of company stock worth $578,221,285 over the last 90 days. 12.93% of the stock is currently owned by insiders.

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.