Summit Global Investments purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,256 shares of the company's stock, valued at approximately $776,000.
A number of other institutional investors also recently modified their holdings of the business. Prestige Wealth Management Group LLC grew its position in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company's stock worth $27,000 after acquiring an additional 650 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies during the fourth quarter valued at $28,000. Wolff Wiese Magana LLC lifted its holdings in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after purchasing an additional 265 shares during the period. Finally, HighMark Wealth Management LLC grew its stake in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after purchasing an additional 166 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.
Palantir Technologies Stock Performance
NASDAQ:PLTR traded down $2.19 during trading hours on Thursday, reaching $90.09. The stock had a trading volume of 82,518,616 shares, compared to its average volume of 66,663,583. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The stock has a 50 day simple moving average of $91.28 and a 200 day simple moving average of $68.54. The stock has a market cap of $211.29 billion, a P/E ratio of 474.18, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.
Wall Street Analyst Weigh In
Several research analysts have commented on PLTR shares. UBS Group lifted their target price on Palantir Technologies from $80.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Robert W. Baird lifted their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Citigroup upped their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Finally, Baird R W raised Palantir Technologies to a "hold" rating in a research note on Thursday, December 12th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $74.45.
Read Our Latest Analysis on Palantir Technologies
Insider Buying and Selling at Palantir Technologies
In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,379,785 shares of company stock valued at $281,528,938 over the last three months. 12.93% of the stock is currently owned by insiders.
Palantir Technologies Profile
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Free Report)
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.
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