Avidian Wealth Enterprises LLC Buys 4,977 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Avidian Wealth Enterprises LLC grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 39.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,575 shares of the company’s stock after acquiring an additional 4,977 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Palantir Technologies were worth $1,329,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its stake in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after buying an additional 808,444 shares in the last quarter. FMR LLC lifted its stake in shares of Palantir Technologies by 8.8% during the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of 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 buying an additional 4,667,955 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Robert W. Baird increased their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group increased their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $69.44.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.10, for a total value of $283,950,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $405,875,479.80. This trade represents a 41.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the sale, the director now directly owns 88,129 shares in the company, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,833,085 shares of company stock valued at $924,999,929. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock opened at $117.39 on Thursday. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $118.66. The firm’s fifty day moving average is $79.17 and its 200 day moving average is $54.84. The firm has a market cap of $267.42 billion, a P/E ratio of 617.87, a P/E/G ratio of 11.44 and a beta of 2.81.

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.