Advisors Asset Management Inc. Boosts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Advisors Asset Management Inc. grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 54.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,014 shares of the company’s stock after purchasing an additional 29,349 shares during the period. Advisors Asset Management Inc.’s holdings in Palantir Technologies were worth $6,278,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PLTR. Empowered Funds LLC boosted its holdings in shares of Palantir Technologies by 156.3% in the third quarter. Empowered Funds LLC now owns 73,095 shares of the company’s stock valued at $2,719,000 after purchasing an additional 44,571 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Palantir Technologies by 406.7% in the 3rd quarter. Natixis Advisors LLC now owns 54,742 shares of the company’s stock worth $2,036,000 after buying an additional 43,938 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Palantir Technologies by 73.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 91,656 shares of the company’s stock worth $3,409,000 after buying an additional 38,924 shares in the last quarter. Aviance Capital Partners LLC grew its position in shares of Palantir Technologies by 116.3% during the 3rd quarter. Aviance Capital Partners LLC now owns 18,832 shares of the company’s stock worth $701,000 after buying an additional 10,125 shares in the last quarter. Finally, Pathstone Holdings LLC increased its stake in shares of Palantir Technologies by 14.5% during the third quarter. Pathstone Holdings LLC now owns 108,707 shares of the company’s stock valued at $4,044,000 after buying an additional 13,797 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 310,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.07, for a total value of $26,991,700.00. Following the sale, the insider now owns 592 shares in the company, valued at approximately $51,545.44. This represents a 99.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the sale, the director now directly owns 184,617 shares in the company, valued at approximately $15,993,370.71. The trade was a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PLTR shares. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Citigroup lifted their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. UBS Group increased their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Loop Capital reduced their price target on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, 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 report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $86.10 on Thursday. The stock’s 50-day simple moving average is $88.70 and its 200-day simple moving average is $66.37. The firm has a market capitalization of $201.94 billion, a PE ratio of 453.18, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41.

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.