Westpac Banking Corp Acquires 25,454 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Westpac Banking Corp raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 337.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,997 shares of the company's stock after purchasing an additional 25,454 shares during the quarter. Westpac Banking Corp's holdings in Palantir Technologies were worth $2,496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLTR. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at about $27,000. First PREMIER Bank acquired a new stake in Palantir Technologies during the 4th quarter valued at approximately $28,000. Wolff Wiese Magana LLC increased its holdings in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after purchasing an additional 265 shares during the last quarter. HighMark Wealth Management LLC raised its position in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now directly owns 195,393 shares of the company's stock, valued at $13,996,000.59. This trade represents a 2.01 % 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 company's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the transaction, the insider now directly owns 512,006 shares of the company's stock, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,993,175 shares of company stock worth $253,549,610. Insiders own 12.93% of the company's stock.

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Palantir Technologies Trading Down 11.5 %

PLTR traded down $9.59 during midday trading on Friday, reaching $74.01. The company's stock had a trading volume of 146,810,995 shares, compared to its average volume of 69,096,867. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The stock has a market cap of $173.58 billion, a P/E ratio of 389.55, a PEG ratio of 10.84 and a beta of 2.74. The company has a fifty day simple moving average of $92.67 and a 200 day simple moving average of $70.70.

Analyst Ratings Changes

Several analysts recently issued reports on PLTR shares. Jefferies Financial Group upped their price target 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. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research note on Tuesday. Cantor Fitzgerald lifted their price target on Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. DA Davidson upped their price objective on Palantir Technologies from $47.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Finally, Bank of America increased their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $75.19.

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.