Kellett Wealth Advisors LLC Buys Shares of 3,000 Palantir Technologies Inc. (NASDAQ:PLTR)

Kellett Wealth Advisors LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,000 shares of the company’s stock, valued at approximately $227,000.

A number of other institutional investors have also modified their holdings of the company. State Street Corp lifted its position in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC increased its stake 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. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after acquiring an additional 808,444 shares during the period. Bank of New York Mellon Corp boosted its position in shares of 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 acquiring an additional 1,262,479 shares during the last quarter. Finally, FMR LLC grew its holdings in Palantir Technologies by 8.8% in 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 during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This trade represents a 87.46 % 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 10,721 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the sale, the director now owns 100,923 shares in the company, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,719,783 shares of company stock worth $477,414,743 in the last three months. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $87.84 on Wednesday. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The stock’s 50-day simple moving average is $86.44 and its 200-day simple moving average is $60.68. The firm has a market cap of $200.10 billion, a price-to-earnings ratio of 462.34, a PEG ratio of 10.84 and a beta of 2.81.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PLTR shares. Royal Bank of Canada lifted 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. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Northland Securities upped their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Loop Capital assumed coverage on Palantir Technologies in a report on Thursday, February 20th. They set a “buy” rating and a $141.00 target price for the company. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $73.21.

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.