Summit Investment Advisors Inc. grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 338.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 89,352 shares of the company's stock after buying an additional 68,955 shares during the period. Summit Investment Advisors Inc.'s holdings in Palantir Technologies were worth $6,758,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in PLTR. Roxbury Financial LLC acquired a new position in Palantir Technologies in the 4th quarter valued at approximately $27,000. First PREMIER Bank acquired a new stake in Palantir Technologies during the fourth quarter worth $28,000. Wolff Wiese Magana LLC boosted its stake 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 buying an additional 265 shares in the last quarter. HighMark Wealth Management LLC increased its holdings in 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 buying an additional 166 shares during the period. Finally, Sierra Ocean LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 45.65% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Royal Bank of Canada boosted their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. DA Davidson dropped 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. Mizuho boosted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Finally, Wedbush reiterated an "outperform" rating and set a $120.00 target price on shares of Palantir Technologies in a research report on Monday, March 3rd. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and an average price target of $74.95.
Check Out Our Latest Analysis on Palantir Technologies
Insider Buying and Selling at Palantir Technologies
In other news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the business's stock in a transaction dated 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 completion of the transaction, the director now directly owns 88,129 shares in the company, valued at approximately $9,059,661.20. The trade was a 11.80 % decrease in their position. 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 stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares in the company, valued at $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. In the last 90 days, insiders sold 2,989,975 shares of company stock worth $253,328,090. Insiders own 12.93% of the company's stock.
Palantir Technologies Stock Up 6.2 %
NASDAQ PLTR traded up $5.78 during trading hours on Tuesday, hitting $98.40. The company's stock had a trading volume of 117,035,424 shares, compared to its average volume of 72,009,172. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The firm has a market capitalization of $230.78 billion, a P/E ratio of 517.92, a PEG ratio of 10.84 and a beta of 2.74. The stock has a fifty day moving average of $92.38 and a 200 day moving average of $73.83.
About Palantir Technologies
(
Free Report)
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.
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