Congress Wealth Management LLC DE Buys Shares of 8,563 Palantir Technologies Inc. (NASDAQ:PLTR)

Congress Wealth Management LLC DE bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 8,563 shares of the company’s stock, valued at approximately $648,000.

Several other hedge funds have also modified their holdings of PLTR. Prestige Wealth Management Group LLC grew its stake in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the fourth quarter valued at about $28,000. Wolff Wiese Magana LLC raised its position in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC boosted its stake in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PLTR shares. Northland Securities upped their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Loop Capital cut their target price on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Robert W. Baird lifted their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. UBS Group increased their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $74.45.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $85.85 on Friday. The stock has a market capitalization of $201.35 billion, a PE ratio of 451.87, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The business has a 50 day simple moving average of $91.98 and a 200-day simple moving average of $69.04. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41.

Insider Activity at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction that occurred 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 sale, the director now directly owns 184,617 shares of the company’s stock, valued at $15,993,370.71. The trade was a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value 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. This represents a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is owned by company insiders.

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.