Laidlaw Wealth Management LLC Raises Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Laidlaw Wealth Management LLC boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 67.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 272,062 shares of the company’s stock after acquiring an additional 109,411 shares during the period. Palantir Technologies comprises approximately 9.0% of Laidlaw Wealth Management LLC’s holdings, making the stock its largest position. Laidlaw Wealth Management LLC’s holdings in Palantir Technologies were worth $20,576,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PLTR. Mather Group LLC. boosted its position in Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after purchasing an additional 448 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Palantir Technologies by 60.5% in the third 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 in the last quarter. Diversify Wealth Management LLC purchased a new stake in Palantir Technologies in the fourth quarter valued at approximately $876,000. Destiny Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the fourth quarter worth approximately $3,233,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Palantir Technologies by 22.9% during the third 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 in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 1,620,395 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $63.21, for a total value of $102,425,167.95. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $406,583,028.18. This represents a 20.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,301,387 shares of company stock worth $575,821,045 over the last 90 days. 12.93% of the stock is owned by insiders.

Palantir Technologies Price Performance

Shares of PLTR opened at $124.62 on Wednesday. The stock has a market cap of $283.89 billion, a PE ratio of 655.93, a P/E/G ratio of 12.25 and a beta of 2.81. The firm has a 50-day simple moving average of $83.91 and a two-hundred day simple moving average of $58.13. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.00.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup lifted their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Bank of America boosted their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Jefferies Financial Group upped their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Wedbush boosted their price objective on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $95.00 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 assigned a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus 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.