Axxcess Wealth Management LLC Reduces Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Axxcess Wealth Management LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 100,582 shares of the company’s stock after selling 897 shares during the period. Axxcess Wealth Management LLC’s holdings in Palantir Technologies were worth $7,607,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PLTR. State Street Corp grew its stake in shares of 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 acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC grew 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 worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 acquiring an additional 4,667,955 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after acquiring an additional 2,984,348 shares during the last quarter. Finally, Amundi grew its stake in shares of Palantir Technologies by 62.7% during the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock worth $514,656,000 after acquiring an additional 2,623,524 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the transaction, the insider now owns 170,273 shares of the company’s stock, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,069,785 shares of company stock worth $254,537,238 in the last three months. 12.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PLTR shares. Wedbush restated an “outperform” rating and set a $120.00 price target on shares of Palantir Technologies in a research note on Monday, March 3rd. Robert W. Baird upped their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Finally, Citigroup upped their price objective on 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 issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Stock Up 1.3 %

Shares of NASDAQ:PLTR opened at $87.35 on Tuesday. The business has a fifty day moving average of $88.06 and a two-hundred day moving average of $65.86. The stock has a market cap of $204.87 billion, a P/E ratio of 459.76, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41.

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.