Prasad Wealth Partners LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Prasad Wealth Partners LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 59,826 shares of the company’s stock, valued at approximately $4,525,000. Palantir Technologies accounts for 1.5% of Prasad Wealth Partners LLC’s holdings, making the stock its 23rd biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Allspring Global Investments Holdings LLC raised its position in shares of Palantir Technologies by 227.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 122,200 shares of the company’s stock worth $4,546,000 after acquiring an additional 84,856 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Palantir Technologies by 80.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 37,012 shares of the company’s stock worth $1,377,000 after acquiring an additional 16,469 shares in the last quarter. Allworth Financial LP raised its position in shares of Palantir Technologies by 8.3% in the 3rd quarter. Allworth Financial LP now owns 24,590 shares of the company’s stock worth $915,000 after acquiring an additional 1,891 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Palantir Technologies by 2,252.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,645 shares of the company’s stock worth $6,323,000 after acquiring an additional 164,349 shares in the last quarter. Finally, Clear Harbor Asset Management LLC raised its position in shares of Palantir Technologies by 12.6% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 17,829 shares of the company’s stock worth $663,000 after acquiring an additional 2,000 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the transaction, the insider now owns 170,273 shares in the company, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $66.59, for a total value of $1,997,700.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at approximately $50,128,019.74. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,719,783 shares of company stock worth $477,414,743 in the last 90 days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Down 10.5 %

Shares of NASDAQ PLTR opened at $90.68 on Tuesday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The stock’s 50 day moving average price is $86.17 and its 200-day moving average price is $60.27. The company has a market capitalization of $206.57 billion, a PE ratio of 477.29, a PEG ratio of 10.84 and a beta of 2.81.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PLTR shares. UBS Group lifted their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Wedbush boosted their target price on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Northland Securities boosted their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Royal Bank of Canada boosted their target price on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Finally, Mizuho boosted their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $73.21.

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.