First Horizon Advisors Inc. Grows Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

First Horizon Advisors Inc. raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,292 shares of the company’s stock after purchasing an additional 1,320 shares during the quarter. First Horizon Advisors Inc.’s holdings in Palantir Technologies were worth $1,232,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Tritonpoint Wealth LLC lifted its holdings in Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after buying an additional 132 shares in the last quarter. Kennebec Savings Bank increased its position in shares of Palantir Technologies by 29.5% during the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after acquiring an additional 159 shares during the period. HighMark Wealth Management LLC raised its stake in shares of 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 acquiring an additional 166 shares in the last quarter. RMR Wealth Builders raised its stake in shares of Palantir Technologies by 2.4% during the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after acquiring an additional 167 shares in the last quarter. Finally, Bay Rivers Group boosted its holdings in shares of Palantir Technologies by 2.7% in the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after purchasing an additional 171 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $101.33 on Monday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The business has a fifty day moving average price of $85.87 and a 200-day moving average price of $59.84. The stock has a market capitalization of $230.84 billion, a price-to-earnings ratio of 533.36, a PEG ratio of 10.84 and a beta of 2.81.

Analyst Upgrades and Downgrades

Several research firms have commented on PLTR. Wedbush raised their price objective on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Jefferies Financial Group raised their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Royal Bank of Canada upped their price objective 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. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Mizuho boosted their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.21.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $42,002.40. This trade represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,671,246 shares of company stock worth $472,745,137. 12.93% of the stock is owned by insiders.

Palantir Technologies 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.