Congress Wealth Management LLC DE Acquires Shares of 8,563 Palantir Technologies Inc. (NASDAQ:PLTR)

Congress Wealth Management LLC DE bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,563 shares of the company’s stock, valued at approximately $648,000.

Other hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in 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 boosted its position 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 acquiring an additional 16,598,253 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock valued at $986,431,000 after purchasing an additional 655,815 shares in the last quarter. Bank of New York Mellon Corp increased its position in Palantir Technologies by 10.9% in the fourth quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock worth $971,367,000 after purchasing an additional 1,262,479 shares during the last quarter. Finally, FMR LLC raised its stake in Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after purchasing an additional 1,004,603 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 4.7 %

Shares of NASDAQ PLTR opened at $85.85 on Friday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The firm has a market cap of $201.35 billion, a PE ratio of 451.87, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The business has a fifty day simple moving average of $91.98 and a two-hundred day simple moving average of $69.04.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PLTR shares. Northland Securities boosted their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. Royal Bank of Canada lifted their price target on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. William Blair set a $84.00 price objective on Palantir Technologies in a research report on Wednesday, March 5th. Mizuho lifted their target price on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, Citigroup increased their price target on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $74.45.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 483,987 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the transaction, the insider now directly owns 170,273 shares in the company, valued at $12,681,933.04. This represents a 73.97 % 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 800 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,379,785 shares of company stock worth $281,528,938. Company 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.