Pinnacle Wealth Planning Services Inc. Acquires Shares of 2,775 Palantir Technologies Inc. (NASDAQ:PLTR)

Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 2,775 shares of the company’s stock, valued at approximately $210,000.

Several other large investors also recently modified their holdings of PLTR. Westover Capital Advisors LLC lifted its position in Palantir Technologies by 1.8% during the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after purchasing an additional 130 shares during the period. Tritonpoint Wealth LLC lifted its holdings in shares of Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after acquiring an additional 132 shares during the period. Twin Peaks Wealth Advisors LLC boosted its position in shares of Palantir Technologies by 2.2% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock worth $493,000 after acquiring an additional 139 shares in the last quarter. Kennebec Savings Bank increased its stake in Palantir Technologies by 29.5% in the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after acquiring an additional 159 shares during the last quarter. Finally, HighMark Wealth Management LLC raised its position in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PLTR shares. Jefferies Financial Group raised their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Robert W. Baird lifted their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Wedbush reissued an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a report on Monday, March 3rd. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, Citigroup upped their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $74.79.

Palantir Technologies Trading Up 5.7 %

NASDAQ PLTR opened at $85.07 on Friday. The firm has a market capitalization of $199.51 billion, a PE ratio of 447.74, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The business’s 50-day moving average price is $87.31 and its two-hundred day moving average price is $62.91. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41.

Insider Buying and Selling

In other news, Director Alexandra W. Schiff sold 6,776 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the sale, the director now directly owns 184,617 shares in the company, valued at $15,993,370.71. This represents a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 416,053 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $43,908.64. The trade was a 99.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,435,838 shares of company stock valued at $107,260,889 over the last ninety days. 12.93% of the stock is owned by company insiders.

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.