Virtus Wealth Solutions LLC Buys New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Virtus Wealth Solutions LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 254,434 shares of the company's stock, valued at approximately $19,243,000. Palantir Technologies makes up approximately 4.5% of Virtus Wealth Solutions LLC's portfolio, making the stock its 6th largest position.

Several other large investors have also recently bought and sold shares of PLTR. Coldstream Capital Management Inc. acquired a new position in shares of Palantir Technologies during the 3rd quarter worth about $639,000. Sunbelt Securities Inc. grew its holdings in Palantir Technologies by 700.0% during the third quarter. Sunbelt Securities Inc. now owns 1,960 shares of the company's stock worth $73,000 after purchasing an additional 1,715 shares during the period. M&T Bank Corp increased its position in Palantir Technologies by 37.0% during the third quarter. M&T Bank Corp now owns 170,043 shares of the company's stock worth $6,326,000 after buying an additional 45,965 shares during the last quarter. World Investment Advisors LLC bought a new stake in Palantir Technologies in the third quarter valued at approximately $347,000. Finally, Wilmington Savings Fund Society FSB lifted its position in shares of Palantir Technologies by 48.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 17,538 shares of the company's stock valued at $652,000 after buying an additional 5,747 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 6.2 %

Shares of PLTR stock traded up $5.78 during trading hours on Tuesday, reaching $98.40. The company's stock had a trading volume of 117,035,424 shares, compared to its average volume of 72,009,046. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The company has a market capitalization of $230.78 billion, a price-to-earnings ratio of 517.92, a PEG ratio of 10.84 and a beta of 2.74. The firm's 50 day simple moving average is $92.38 and its 200-day simple moving average is $73.83.

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Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's 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 sale, the insider now owns 592 shares in the company, valued at $48,988. The trade was a 99.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 owns 88,129 shares of the company's stock, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,989,975 shares of company stock valued at $253,328,090 over the last ninety days. 12.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Daiwa Capital Markets began coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Wedbush reissued an "outperform" rating and issued a $120.00 price objective on shares of Palantir Technologies in a research report on Monday, March 3rd. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Loop Capital reissued a "buy" rating on shares of Palantir Technologies in a report on Friday, April 4th. Finally, Mizuho raised their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Five research 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $74.95.

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.