Latitude Advisors LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Latitude Advisors LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,421 shares of the company’s stock, valued at approximately $410,000.

Other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. grew its stake in Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after buying an additional 448 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the period. Diversify Wealth Management LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $876,000. Destiny Wealth Partners LLC bought a new position in Palantir Technologies in the fourth quarter valued at approximately $3,233,000. Finally, State of Alaska Department of Revenue raised its position in Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 5.2 %

Palantir Technologies stock opened at $116.65 on Tuesday. The company has a market capitalization of $265.73 billion, a PE ratio of 613.98, a PEG ratio of 11.44 and a beta of 2.81. The firm’s fifty day moving average is $77.34 and its 200 day moving average is $53.60. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $116.76.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Jefferies Financial Group boosted their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Citigroup upped their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $69.44.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.10, for a total value of $283,950,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. This trade represents a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,656,687 shares of company stock valued at $1,040,105,687 in the last 90 days. 12.93% of the stock is currently owned by corporate 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.