Palantir Technologies Inc. (NASDAQ:PLTR) Shares Purchased by Fortis Capital Management LLC

Fortis Capital Management LLC increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 38.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,773 shares of the company's stock after purchasing an additional 3,551 shares during the period. Fortis Capital Management LLC's holdings in Palantir Technologies were worth $966,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Prestige Wealth Management Group LLC increased 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 worth $27,000 after buying an additional 650 shares in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its stake in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC boosted its stake in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after purchasing an additional 166 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several research reports. Jefferies Financial Group raised their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research note on Tuesday, February 4th. William Blair set a $84.00 target price on Palantir Technologies in a report on Wednesday, March 5th. Mizuho lifted their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Baird R W raised Palantir Technologies to a "hold" rating in a research note on Thursday, December 12th. Finally, Loop Capital cut their price objective on shares of Palantir Technologies from $141.00 to $125.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies currently has an average rating of "Hold" and a consensus price target of $74.45.

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Palantir Technologies Price Performance

Shares of PLTR traded down $4.22 during midday trading on Wednesday, reaching $92.28. 81,394,443 shares of the stock were exchanged, compared to its average volume of 66,465,241. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The company has a market capitalization of $216.43 billion, a price-to-earnings ratio of 485.71, a PEG ratio of 10.84 and a beta of 2.81. The business's 50-day moving average price is $90.80 and its 200 day moving average price is $68.37.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the firm's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now directly owns 195,393 shares of the company's stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 310,000 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at $51,545.44. This trade represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,379,785 shares of company stock valued at $281,528,938 over the last quarter. Company insiders own 12.93% of the company's stock.

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.