Private Trust Co. NA Purchases 10,372 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Private Trust Co. NA boosted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 175.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,275 shares of the company’s stock after buying an additional 10,372 shares during the period. Private Trust Co. NA’s holdings in Palantir Technologies were worth $1,231,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mather Group LLC. boosted its stake in Palantir Technologies by 101.4% during the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after purchasing an additional 448 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 60.5% during 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 acquired a new position in Palantir Technologies during the 4th quarter valued at about $876,000. Destiny Wealth Partners LLC acquired a new position in Palantir Technologies during the 4th quarter valued at about $3,233,000. Finally, Oppenheimer & Co. Inc. boosted its stake in Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 0.1 %

Shares of NASDAQ:PLTR opened at $84.86 on Friday. The stock’s 50-day moving average price is $87.09 and its 200-day moving average price is $61.43. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The stock has a market capitalization of $193.31 billion, a P/E ratio of 446.64, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PLTR shares. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group boosted their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, Northland Securities boosted their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $73.21.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the transaction, the director now directly owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 592 shares in the company, valued at $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,689,783 shares of company stock valued at $475,417,043. 12.93% of the stock is currently owned by insiders.

About Palantir Technologies

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.