Focus Financial Network Inc. Raises Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Focus Financial Network Inc. increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 22.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,793 shares of the company’s stock after buying an additional 1,590 shares during the period. Focus Financial Network Inc.’s holdings in Palantir Technologies were worth $665,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp increased its position 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 purchasing an additional 40,498,024 shares during the period. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after buying an additional 808,444 shares during the period. FMR LLC raised its stake in Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after buying an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 38,093 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at $405,296,576.58. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies 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 in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,833,085 shares of company stock worth $924,999,929. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wedbush lifted their price target on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Citigroup boosted their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Royal Bank of Canada raised their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, DA Davidson raised their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Stock Up 4.2 %

Shares of NASDAQ:PLTR opened at $117.39 on Thursday. The business has a 50-day moving average price of $79.17 and a 200-day moving average price of $54.84. The stock has a market cap of $267.42 billion, a price-to-earnings ratio of 617.87, a PEG ratio of 11.44 and a beta of 2.81. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $118.66.

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.