Independent Advisor Alliance Grows Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Independent Advisor Alliance increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 90.7% in the 4th quarter, HoldingsChannel reports. The fund owned 56,530 shares of the company’s stock after purchasing an additional 26,888 shares during the quarter. Independent Advisor Alliance’s holdings in Palantir Technologies were worth $4,275,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC grew its holdings in shares of 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 purchasing an additional 650 shares during the period. Roxbury Financial LLC purchased a new position in Palantir Technologies during the fourth quarter worth about $27,000. First PREMIER Bank purchased a new position in Palantir Technologies during the fourth quarter worth about $28,000. Wolff Wiese Magana LLC increased its position in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC raised its stake 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 valued at $30,000 after acquiring an additional 166 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the subject of a number of research analyst reports. UBS Group increased their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. DA Davidson raised their price target on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group boosted their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Northland Securities increased 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. Finally, Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $75.25.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $78.05 on Wednesday. The firm has a market capitalization of $183.06 billion, a PE ratio of 410.81, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The business’s fifty day moving average price is $87.46 and its 200 day moving average price is $64.35. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41.

Insider Activity

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the sale, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 985,838 shares of company stock worth $75,333,389. Corporate insiders own 12.93% of the company’s stock.

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.