CIBC Private Wealth Group LLC Grows Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

CIBC Private Wealth Group LLC grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 17.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 108,862 shares of the company’s stock after acquiring an additional 16,479 shares during the period. CIBC Private Wealth Group LLC’s holdings in Palantir Technologies were worth $8,233,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PLTR. Prestige Wealth Management Group LLC grew its position in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth approximately $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $28,000. Wolff Wiese Magana LLC raised its holdings in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the period. Finally, HighMark Wealth Management LLC boosted its stake in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 483,987 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the completion of the sale, the insider now owns 170,273 shares in the company, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following 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 valued at $281,528,938 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PLTR. Mizuho raised their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Bank of America boosted their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a report on Tuesday. They issued a “neutral” rating and a $90.00 price target on the stock. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Finally, Royal Bank of Canada increased their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $75.19.

Palantir Technologies Trading Up 0.3 %

Shares of NASDAQ:PLTR opened at $84.68 on Wednesday. The company has a market capitalization of $198.60 billion, a PE ratio of 445.71, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The business’s fifty day simple moving average is $92.47 and its 200-day simple moving average is $70.22.

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.