Kovack Advisors Inc. Has $2.32 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Kovack Advisors Inc. cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 27.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,650 shares of the company’s stock after selling 11,808 shares during the quarter. Kovack Advisors Inc.’s holdings in Palantir Technologies were worth $2,318,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC lifted its holdings in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the period. Roxbury Financial LLC bought a new position in shares of Palantir Technologies in the 4th quarter worth about $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies in the 4th quarter worth about $28,000. Wolff Wiese Magana LLC raised its position in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC raised its position in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $89.31 on Thursday. The stock has a market cap of $203.45 billion, a P/E ratio of 470.08, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The firm’s fifty day moving average price is $86.79 and its 200-day moving average price is $60.88.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the sale, the insider now owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. The trade was a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,719,783 shares of company stock valued at $477,414,743. 12.93% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PLTR shares. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Robert W. Baird boosted their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Loop Capital assumed coverage on Palantir Technologies in a research report on Thursday, February 20th. They issued a “buy” rating and a $141.00 target price for the company. Finally, Cantor Fitzgerald boosted their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.21.

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.