Capital Group Investment Management PTE. LTD. Purchases Shares of 16,029 Palantir Technologies Inc. (NASDAQ:PLTR)

Capital Group Investment Management PTE. LTD. bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,029 shares of the company's stock, valued at approximately $1,212,000.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on PLTR shares. Northland Securities raised their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. Loop Capital reaffirmed a "buy" rating on shares of Palantir Technologies in a research note on Friday, April 4th. UBS Group boosted their price target on Palantir Technologies from $80.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Citigroup boosted their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Finally, Robert W. Baird lifted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $74.71.

Palantir Technologies Stock Up 5.4 %

Palantir Technologies stock traded up $4.92 during midday trading on Tuesday, reaching $95.72. The stock had a trading volume of 41,429,064 shares, compared to its average volume of 72,799,968. The company has a fifty day moving average of $90.65 and a 200 day moving average of $75.61. Palantir Technologies Inc. has a 52-week low of $20.36 and a 52-week high of $125.41. The firm has a market cap of $224.49 billion, a price-to-earnings ratio of 500.47, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Insider Buying and Selling

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

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.