Envestnet Portfolio Solutions Inc. Increases Holdings in Palantir Technologies Inc.

Envestnet Portfolio Solutions Inc. has reported a 17.4% increase in its holdings of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter. According to the latest 13F filing submitted to the Securities and Exchange Commission, Envestnet now owns a total of 26,829 shares of Palantir's stock after acquiring an additional 3,973 shares in this period. The value of their holdings in Palantir Technologies stands at approximately $2,029,000 as per the SEC filing.

Additionally, other institutional investors have also been active in adjusting their stakes in Palantir. For instance, Prestige Wealth Management Group LLC significantly boosted its holdings in Palantir by an astonishing 747.1% during the third quarter, bringing its total to 737 shares, valued at about $27,000 after purchasing 650 more shares recently. Likewise, Roxbury Financial LLC initiated a new position in Palantir in the fourth quarter valued at $27,000, while First PREMIER Bank also made a new investment worth $28,000 in the same quarter.

Further compounding this activity, Wolff Wiese Magana LLC raised its holdings in Palantir by 230.4%, now owning 380 shares valued at $29,000 after acquiring 265 additional shares. Lastly, HighMark Wealth Management LLC saw a 73.5% increase in its position during the fourth quarter, now owning 392 shares worth $30,000. Overall, about 45.65% of Palantir's stock is owned by hedge funds and other institutional investors.

Insider Trading Activities

In terms of insider activities, Director Lauren Elaina Friedman Stat recently sold 800 shares of Palantir stock on January 2, with the shares going for an average price of $76.29, resulting in a total value of $61,032. Following this sale, she now controls 62,139 shares, appraised at $4,740,584.31, indicating a 1.27% reduction in her stock ownership. This transaction was made public in a filing with the Securities and Exchange Commission.

In another significant transaction, insider Stephen Andrew Cohen sold 1,250,000 shares on March 12 at an average price of $82.75, which totaled $103,437,500. Post-sale, he holds just 592 shares valued at roughly $48,988, marking a drastic 99.95% decrease in his ownership stake. Over the last ninety days, company insiders have disposed of 3,379,785 shares valued at $281,528,938, with insiders currently owning about 12.93% of the company’s stock.

Palantir Technologies Stock Performance

As of the latest data, shares of Palantir Technologies were trading at $87.39, giving the company a market capitalization of $204.96 billion. Palantir has a price-to-earnings ratio (P/E) of 459.97 and a price-to-earnings growth (PEG) ratio of 10.84. The stock has fluctuated within a yearly range, reaching lows of $20.33 to highs of $125.41. The company's fifty-day moving average stands at $89.08, contrasted with a two-hundred day moving average of $66.51.

Research Ratings and Market Outlook

In recent analyses, various research firms have weighed in on Palantir. For example, Wedbush has reaffirmed an "outperform" rating, assigning a price target of $120.00. Meanwhile, William Blair set a target of $84.00. Baird maintained a "hold" rating, while Morgan Stanley upgraded the stock from "equal weight" to "overweight," raising the price objective from $60.00 to $95.00. Royal Bank of Canada also increased its target from $11.00 to $40.00, although it issued an "underperform" rating. Across all firms, five analysts have rated the stock as a sell, thirteen as a hold, and four as a buy, yielding a consensus rating of "Hold" with an average price target of $74.45.

About Palantir Technologies

Palantir Technologies, Inc. focuses on developing and deploying software platforms that act as essential operating systems for its clients. The company operates through two segments: Commercial, catering to non-government sectors, and Government, serving both U.S. and non-U.S. government agencies.

Palantir, Investments, Stocks