Maridea Wealth Management LLC Purchases New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Maridea Wealth Management LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, Holdings Channel reports. The fund acquired 4,349 shares of the company’s stock, valued at approximately $329,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp raised its position in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $1,360,191,000. Geode Capital Management LLC increased its stake in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. Lord Abbett & CO. LLC raised its holdings in Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. Finally, Amundi lifted its position in Palantir Technologies by 62.7% in the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock valued at $514,656,000 after purchasing an additional 2,623,524 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PLTR shares. William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Jefferies Financial Group lifted their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Bank of America increased their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Northland Securities raised their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Finally, Robert W. Baird upped their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Five 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. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average target price of $74.45.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,379,785 shares of company stock worth $281,528,938 in the last three months. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Down 4.7 %

NASDAQ PLTR opened at $85.85 on Friday. The company 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’s 50-day moving average price is $91.98 and its 200 day moving average price is $69.28. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41.

About Palantir Technologies

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.