Congress Wealth Management LLC DE Buys Shares of 8,563 Palantir Technologies Inc. (NASDAQ:PLTR)

Congress Wealth Management LLC DE bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,563 shares of the company's stock, valued at approximately $648,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Stevens Capital Management LP acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $260,000. Guardian Partners Inc. acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $2,212,000. Fortis Capital Management LLC grew its position in shares of Palantir Technologies by 38.5% in the 4th quarter. Fortis Capital Management LLC now owns 12,773 shares of the company's stock valued at $966,000 after buying an additional 3,551 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Palantir Technologies during the 4th quarter worth $52,033,000. Finally, AXQ Capital LP purchased a new stake in Palantir Technologies in the fourth quarter valued at $353,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR traded down $2.47 during trading on Monday, hitting $83.38. 77,097,960 shares of the company were exchanged, compared to its average volume of 68,023,388. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The company has a market cap of $195.57 billion, a price-to-earnings ratio of 437.24, a PEG ratio of 10.84 and a beta of 2.81. The firm's fifty day moving average price is $91.98 and its 200 day moving average price is $69.53.

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Analysts Set New Price Targets

PLTR has been the topic of a number of research reports. UBS Group raised their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Robert W. Baird increased their price target 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. Cantor Fitzgerald lifted 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. DA Davidson increased their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Finally, Wedbush reissued an "outperform" rating and set a $120.00 price target on shares of Palantir Technologies in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $74.45.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 483,987 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the transaction, the insider now owns 170,273 shares in the company, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,379,785 shares of company stock worth $281,528,938 over the last 90 days. Company insiders own 12.93% of the company's stock.

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.