Allstate Corp Makes New $4.56 Million Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Allstate Corp purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 60,344 shares of the company's stock, valued at approximately $4,564,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Heritage Wealth Management Inc. CA boosted its position in shares of Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after acquiring an additional 111 shares during the period. Westover Capital Advisors LLC raised its stake in Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock worth $554,000 after purchasing an additional 130 shares in the last quarter. Tritonpoint Wealth LLC raised its stake in Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company's stock worth $537,000 after purchasing an additional 132 shares in the last quarter. Twin Peaks Wealth Advisors LLC boosted its holdings in Palantir Technologies by 2.2% in the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company's stock valued at $493,000 after purchasing an additional 139 shares during the period. Finally, Truvestments Capital LLC increased its holdings in shares of Palantir Technologies by 1.2% during the fourth quarter. Truvestments Capital LLC now owns 12,311 shares of the company's stock worth $931,000 after purchasing an additional 142 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analysts Set New Price Targets

Several brokerages recently issued reports on PLTR. Royal Bank of Canada boosted their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Baird R W upgraded Palantir Technologies to a "hold" rating in a research report on Thursday, December 12th. UBS Group increased 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. Wedbush reaffirmed an "outperform" rating and issued a $120.00 price target on shares of Palantir Technologies in a research note on Monday, March 3rd. Finally, William Blair set a $84.00 price objective on shares of Palantir Technologies in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $74.45.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now owns 62,139 shares in the company, valued at $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now owns 195,393 shares of the company's stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,379,785 shares of company stock worth $281,528,938 over the last ninety days. Insiders own 12.93% of the company's stock.

Palantir Technologies Stock Down 2.5 %

PLTR traded down $2.15 during midday trading on Monday, hitting $83.70. 91,651,339 shares of the company were exchanged, compared to its average volume of 68,085,199. The firm has a market capitalization of $196.30 billion, a P/E ratio of 440.24, a P/E/G ratio of 10.84 and a beta of 2.81. The firm's 50 day moving average price is $91.98 and its 200-day moving average price is $69.53. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41.

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.