Summit Securities Group LLC Makes New $34,000 Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Summit Securities Group LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, HoldingsChannel reports. The fund purchased 452 shares of the company’s stock, valued at approximately $34,000.

A number of other institutional investors also recently modified their holdings of PLTR. Heritage Wealth Management Inc. CA raised its holdings in Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after acquiring an additional 111 shares during the period. Westover Capital Advisors LLC grew its position in shares of Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after purchasing an additional 130 shares in the last quarter. Tritonpoint Wealth LLC raised its stake in shares of Palantir Technologies by 1.9% during 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 period. Twin Peaks Wealth Advisors LLC lifted its holdings 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 in the last quarter. Finally, Truvestments Capital LLC boosted its stake in Palantir Technologies by 1.2% in the 4th quarter. Truvestments Capital LLC now owns 12,311 shares of the company’s stock worth $931,000 after purchasing an additional 142 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLTR. DA Davidson upped their price target on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Bank of America raised their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. William Blair set a $84.00 price target on shares of Palantir Technologies in a report on Wednesday, March 5th. Mizuho lifted their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Finally, Wedbush restated an “outperform” rating and set a $120.00 target price on shares of Palantir Technologies in a research report on Monday, March 3rd. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $74.45.

Palantir Technologies Stock Down 4.7 %

NASDAQ PLTR opened at $85.85 on Monday. The firm has a market cap of $201.35 billion, a price-to-earnings ratio of 451.87, a PEG ratio of 10.84 and a beta of 2.81. The company has a 50-day simple moving average of $91.98 and a two-hundred day simple moving average of $69.53. 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 related news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction on 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 directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,379,785 shares of company stock worth $281,528,938 in the last ninety days. 12.93% of the stock is owned by company insiders.

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.