Palantir Technologies Inc. (NASDAQ:PLTR) Shares Purchased by Tradition Wealth Management LLC

Tradition Wealth Management LLC increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,534 shares of the company's stock after purchasing an additional 10,702 shares during the period. Tradition Wealth Management LLC's holdings in Palantir Technologies were worth $4,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Transce3nd LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $481,000. Seaview Investment Managers LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $236,000. Sharpepoint LLC acquired a new position in Palantir Technologies in the fourth quarter valued at about $3,713,000. Mirabella Financial Services LLP purchased a new position in shares of Palantir Technologies during the fourth quarter worth $3,526,000. Finally, Mach 1 Financial Group LLC purchased a new stake in Palantir Technologies during the fourth quarter worth about $215,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 6.5 %

Shares of NASDAQ PLTR traded up $6.56 during midday trading on Thursday, hitting $107.38. The company had a trading volume of 73,718,629 shares, compared to its average volume of 73,462,256. The business has a 50-day simple moving average of $89.81 and a two-hundred day simple moving average of $75.91. Palantir Technologies Inc. has a twelve month low of $20.50 and a twelve month high of $125.41. The firm has a market capitalization of $251.85 billion, a price-to-earnings ratio of 564.39, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction 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 completion of the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the sale, the insider now owns 702,786 shares in the company, valued at approximately $64,958,509.98. The trade was a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,989,975 shares of company stock worth $253,328,090. Company insiders own 12.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PLTR shares. Jefferies Financial Group lifted their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. DA Davidson lowered their price target on Palantir Technologies from $105.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Loop Capital reissued a "buy" rating on shares of Palantir Technologies in a research report on Friday, April 4th. Bank of America raised their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley decreased their target price on shares of Palantir Technologies from $95.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $74.71.

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.