Beck Capital Management LLC Invests $577,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Beck Capital Management LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,630 shares of the company's stock, valued at approximately $577,000.

Several other institutional investors and hedge funds also recently modified their holdings of PLTR. Pinebridge Investments L.P. raised its holdings in Palantir Technologies by 55.3% during the 4th quarter. Pinebridge Investments L.P. now owns 508,041 shares of the company's stock worth $38,423,000 after buying an additional 180,932 shares during the period. Alta Advisers Ltd raised its stake in shares of Palantir Technologies by 21.8% in the 4th quarter. Alta Advisers Ltd now owns 6,822 shares of the company's stock valued at $516,000 after acquiring an additional 1,222 shares in the last quarter. Harvest Investment Services LLC lifted its position in Palantir Technologies by 25.1% during the 4th quarter. Harvest Investment Services LLC now owns 127,148 shares of the company's stock worth $9,616,000 after acquiring an additional 25,516 shares during the last quarter. Hsbc Holdings PLC increased its position in Palantir Technologies by 16.9% during the fourth quarter. Hsbc Holdings PLC now owns 4,029,743 shares of the company's stock worth $306,047,000 after acquiring an additional 583,382 shares during the period. Finally, Fayez Sarofim & Co acquired a new position in Palantir Technologies in the 4th quarter valued at approximately $226,000. Institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other news, insider Heather A. Planishek sold 13,891 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares of the company's stock, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total value of $1,212,423.20. Following the transaction, the director now directly owns 88,129 shares in the company, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock worth $253,328,090 over the last quarter. Company insiders own 12.93% of the company's stock.

Palantir Technologies Trading Up 4.6 %

PLTR stock traded up $5.00 during trading on Friday, hitting $112.78. The company had a trading volume of 103,457,514 shares, compared to its average volume of 74,033,131. The business has a 50-day moving average of $89.58 and a 200-day moving average of $76.39. Palantir Technologies Inc. has a one year low of $20.50 and a one year high of $125.41. The stock has a market cap of $264.51 billion, a PE ratio of 593.61, a PEG ratio of 10.84 and a beta of 2.74.

Analysts Set New Price Targets

A number of research firms have commented on PLTR. Wedbush restated an "outperform" rating and issued a $120.00 price target on shares of Palantir Technologies in a research report on Monday, March 3rd. DA Davidson reduced their price target on shares of Palantir Technologies from $105.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 14th. UBS Group lifted their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Finally, Northland Securities upped their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average price target of $74.71.

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.