Venturi Wealth Management LLC Grows Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Venturi Wealth Management LLC increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 23.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 20,666 shares of the company’s stock after buying an additional 3,867 shares during the period. Venturi Wealth Management LLC’s holdings in Palantir Technologies were worth $1,563,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Mather Group LLC. raised its position in shares of Palantir Technologies by 101.4% during the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after buying an additional 448 shares during the period. Charles Schwab Investment Management Inc. raised its position in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the period. Diversify Wealth Management LLC acquired a new position in shares of Palantir Technologies in the fourth quarter worth $876,000. Destiny Wealth Partners LLC acquired a new position in shares of Palantir Technologies in the fourth quarter worth $3,233,000. Finally, State of Alaska Department of Revenue grew its stake in shares of Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after acquiring an additional 68,945 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PLTR shares. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. DA Davidson upped their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. UBS Group increased their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” 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 three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $69.44.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $124.62 on Wednesday. The firm has a 50-day moving average of $83.91 and a 200-day moving average of $58.13. The stock has a market cap of $283.89 billion, a PE ratio of 655.93, 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 $125.00.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the transaction, the director now directly owns 111,644 shares of the company’s stock, valued at $7,454,469.88. This represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,301,387 shares of company stock valued at $575,821,045 over the last quarter. 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.