Convergence Investment Partners LLC Invests $3.48 Million in Palantir Technologies Inc. (NASDAQ:PLTR)

Convergence Investment Partners LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 45,990 shares of the company's stock, valued at approximately $3,478,000.

Other institutional investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the third quarter valued at $25,000. Prestige Wealth Management Group LLC raised its stake in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company's stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $27,000. First PREMIER Bank purchased a new position in Palantir Technologies during the 4th quarter worth $28,000. Finally, Wolff Wiese Magana LLC raised its holdings in 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 in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Down 4.6 %

Shares of NASDAQ:PLTR traded down $4.94 during midday trading on Friday, reaching $101.33. The company's stock had a trading volume of 128,298,628 shares, compared to its average volume of 99,220,368. The firm has a market cap of $230.84 billion, a price-to-earnings ratio of 533.36, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The business has a 50 day moving average price of $85.87 and a 200 day moving average price of $59.37. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41.

Insider Activity at Palantir Technologies

In other Palantir Technologies 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 sale, the director now directly owns 88,129 shares in the company, valued at $9,059,661.20. The trade was a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now owns 512,006 shares of the company's stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,680,992 shares of company stock worth $473,395,877. 12.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research analyst reports. Citigroup increased their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Royal Bank of Canada increased their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Northland Securities increased their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a report on Tuesday, February 4th. Bank of America increased their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group increased their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $73.21.

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.