MIG Capital LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

MIG Capital LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,513 shares of the company's stock, valued at approximately $341,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $1,360,191,000. Geode Capital Management LLC increased its stake in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after purchasing an additional 3,907,022 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $240,236,000. Finally, Lord Abbett & CO. LLC increased its position in Palantir Technologies by 943.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company's stock worth $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares of the company's stock, valued at $4,983,793.75. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,989,975 shares of company stock valued at $253,328,090 over the last ninety days. Corporate insiders own 12.93% of the company's stock.

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Palantir Technologies Stock Up 1.5 %

Shares of Palantir Technologies stock traded up $1.19 during trading on Wednesday, hitting $78.51. The stock had a trading volume of 64,073,987 shares, compared to its average volume of 70,042,524. The stock has a 50 day simple moving average of $92.61 and a 200 day simple moving average of $71.79. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The company has a market capitalization of $184.13 billion, a PE ratio of 412.05, a P/E/G ratio of 10.84 and a beta of 2.74.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PLTR. Bank of America increased their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Wedbush restated an "outperform" rating and issued a $120.00 target price on shares of Palantir Technologies in a research note on Monday, March 3rd. Jefferies Financial Group boosted their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research note on Tuesday, February 4th. Baird R W upgraded Palantir Technologies to a "hold" rating in a report on Thursday, December 12th. Finally, Morgan Stanley upgraded Palantir Technologies from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $75.19.

About Palantir Technologies

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.