Palantir Technologies Inc. (NASDAQ:PLTR) Shares Bought by Rakuten Securities Inc.

Rakuten Securities Inc. lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 37.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 230,353 shares of the company’s stock after buying an additional 62,812 shares during the period. Palantir Technologies accounts for about 6.9% of Rakuten Securities Inc.’s investment portfolio, making the stock its 3rd biggest holding. Rakuten Securities Inc.’s holdings in Palantir Technologies were worth $17,422,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PLTR. Prestige Wealth Management Group LLC grew its position in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the period. Roxbury Financial LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at $27,000. First PREMIER Bank acquired a new stake in Palantir Technologies in the 4th quarter valued at $28,000. Wolff Wiese Magana LLC grew its position in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Finally, HighMark Wealth Management LLC grew its position in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $43,908.64. This represents a 99.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $61,032.00. Following the transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 985,838 shares of company stock worth $75,333,389. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Up 2.2 %

PLTR opened at $78.05 on Wednesday. The business has a fifty day moving average of $87.46 and a 200 day moving average of $64.35. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The stock has a market cap of $183.06 billion, a P/E ratio of 410.81, a PEG ratio of 10.84 and a beta of 2.81.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Robert W. Baird raised their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. DA Davidson raised their price objective on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group raised their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Mizuho raised their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada raised their price objective on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average price target of $75.25.

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.