Beacon Pointe Advisors LLC Increases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Beacon Pointe Advisors LLC increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 52.2% during the 4th quarter, HoldingsChannel reports. The firm owned 322,463 shares of the company’s stock after buying an additional 110,617 shares during the period. Beacon Pointe Advisors LLC’s holdings in Palantir Technologies were worth $24,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in PLTR. Geode Capital Management LLC grew its stake in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Norges Bank bought a new stake in Palantir Technologies in the fourth quarter worth about $1,360,191,000. FMR LLC boosted its holdings in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after acquiring an additional 2,818,090 shares during the period. Invesco Ltd. lifted its holdings in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Palantir Technologies by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock worth $986,431,000 after buying an additional 655,815 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. William Blair set a $84.00 price target on Palantir Technologies in a research report on Wednesday, March 5th. Northland Securities upped their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Royal Bank of Canada raised their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Jefferies Financial Group lifted their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley dropped their price objective on Palantir Technologies from $95.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned 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 price target of $74.71.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction that occurred on 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 owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $587,004.88. Following the sale, the director now owns 184,617 shares of the company’s stock, 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. Insiders sold a total of 2,989,975 shares of company stock worth $253,328,090 over the last quarter. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Up 4.6 %

Shares of PLTR stock opened at $112.78 on Monday. The firm has a fifty day moving average of $89.34 and a 200-day moving average of $77.35. Palantir Technologies Inc. has a 12-month low of $20.50 and a 12-month high of $125.41. The firm has a market capitalization of $264.51 billion, a price-to-earnings ratio of 593.61, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

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.