Longbow Finance SA Purchases New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Longbow Finance SA purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 86,962 shares of the company’s stock, valued at approximately $6,577,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Los Angeles Capital Management LLC boosted its stake in shares of Palantir Technologies by 163.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 823,423 shares of the company’s stock worth $62,275,000 after buying an additional 511,065 shares during the period. Avalon Capital Management boosted its stake in shares of Palantir Technologies by 39.4% during the fourth quarter. Avalon Capital Management now owns 8,850 shares of the company’s stock worth $669,000 after buying an additional 2,500 shares during the period. FourThought Financial Partners LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $487,000. Twin Peaks Wealth Advisors LLC boosted its stake in shares of Palantir Technologies by 2.2% during the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock worth $493,000 after buying an additional 139 shares during the period. Finally, Artemis Wealth Advisors LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $2,080,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % 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 this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the sale, the director now owns 100,923 shares in the company, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,719,783 shares of company stock valued at $477,414,743 in the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Citigroup increased their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Mizuho increased their price target 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. Wedbush increased their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.21.

Palantir Technologies Price Performance

Shares of PLTR opened at $90.68 on Tuesday. The firm has a 50 day simple moving average of $86.17 and a 200-day simple moving average of $60.27. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The stock has a market cap of $206.57 billion, a price-to-earnings ratio of 477.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

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.