Gabelli Funds LLC Purchases New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Gabelli Funds LLC bought 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 institutional investor bought 23,000 shares of the company's stock, valued at approximately $1,739,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lafayette Investments Inc. acquired a new position in Palantir Technologies during the fourth quarter worth $265,000. AGP Franklin LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $5,747,000. Guggenheim Capital LLC increased its stake in shares of Palantir Technologies by 296.8% during the fourth quarter. Guggenheim Capital LLC now owns 566,805 shares of the company's stock worth $42,867,000 after purchasing an additional 423,969 shares in the last quarter. Carroll Investors Inc raised its position in shares of Palantir Technologies by 2.2% during the 4th quarter. Carroll Investors Inc now owns 239,897 shares of the company's stock worth $18,155,000 after purchasing an additional 5,259 shares during the last quarter. Finally, Chiron Investment Management LLC purchased a new position in Palantir Technologies in the 4th quarter valued at about $404,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PLTR shares. DA Davidson cut their price objective on Palantir Technologies from $105.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Royal Bank of Canada boosted their price target on Palantir Technologies from $11.00 to $40.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Citigroup raised their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Morgan Stanley lowered their target price on shares of Palantir Technologies from $95.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Finally, 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 research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and a consensus target price of $74.71.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm'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 transaction of $1,212,423.20. Following the transaction, the director now owns 88,129 shares in the company, valued at $9,059,661.20. This trade represents a 11.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 6,776 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the sale, the director now owns 184,617 shares of the company's stock, valued at approximately $15,993,370.71. This represents a 3.54 % 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 worth $253,328,090 in the last quarter. 12.93% of the stock is owned by company insiders.

Palantir Technologies Trading Up 1.2 %

PLTR traded up $1.07 during trading hours on Friday, hitting $93.78. 83,698,348 shares of the company's stock were exchanged, compared to its average volume of 72,859,837. The firm has a market cap of $219.95 billion, a P/E ratio of 493.60, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. The firm has a 50 day moving average of $91.18 and a 200 day moving average of $75.01. Palantir Technologies Inc. has a 12-month low of $20.36 and a 12-month high of $125.41.

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.