Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Zacks Investment Management

Zacks Investment Management grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 76.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,674 shares of the company's stock after acquiring an additional 166,138 shares during the period. Zacks Investment Management's holdings in Palantir Technologies were worth $29,017,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Heritage Wealth Management Inc. CA raised its holdings in shares of Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after purchasing an additional 111 shares in the last quarter. Westover Capital Advisors LLC lifted its holdings in Palantir Technologies by 1.8% during the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock worth $554,000 after buying an additional 130 shares during the period. Tritonpoint Wealth LLC raised its position in shares of Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company's stock valued at $537,000 after purchasing an additional 132 shares during the last quarter. Twin Peaks Wealth Advisors LLC grew its position in Palantir Technologies by 2.2% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company's stock worth $493,000 after purchasing an additional 139 shares during the last quarter. Finally, Truvestments Capital LLC raised its holdings in shares of Palantir Technologies by 1.2% in the fourth quarter. Truvestments Capital LLC now owns 12,311 shares of the company's stock worth $931,000 after buying an additional 142 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the transaction, the director now owns 184,617 shares in the company, valued at approximately $15,993,370.71. This trade represents a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $1,212,423.20. Following the sale, the director now owns 88,129 shares of the company's stock, valued at $9,059,661.20. The trade was a 11.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,989,975 shares of company stock worth $253,328,090 in the last ninety days. Insiders own 12.93% of the company's stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR traded up $1.07 during mid-day trading on Friday, hitting $93.78. 83,698,348 shares of the company's stock traded hands, compared to its average volume of 72,859,837. The company has a market cap of $219.95 billion, a PE ratio of 493.60, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. The firm's 50 day simple moving average is $91.18 and its 200 day simple moving average is $75.01. Palantir Technologies Inc. has a 1 year low of $20.36 and a 1 year high of $125.41.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley reduced their target price on Palantir Technologies from $95.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday. William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Robert W. Baird raised their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Loop Capital reaffirmed a "buy" rating on shares of Palantir Technologies in a report on Friday, April 4th. Finally, Mizuho upped their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently 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.