Verus Capital Partners LLC Purchases 13,962 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Verus Capital Partners LLC grew its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 27.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,640 shares of the company’s stock after purchasing an additional 13,962 shares during the quarter. Verus Capital Partners LLC’s holdings in Palantir Technologies were worth $4,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mather Group LLC. boosted its holdings in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after buying an additional 448 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth about $876,000. Destiny Wealth Partners LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $3,233,000. Finally, Oppenheimer & Co. Inc. raised its stake in Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 5.1 %

Shares of PLTR opened at $84.77 on Friday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The company’s fifty day simple moving average is $87.00 and its 200-day simple moving average is $61.04. The company has a market cap of $193.11 billion, a P/E ratio of 446.18, a P/E/G ratio of 10.84 and a beta of 2.81.

Analysts Set New Price Targets

PLTR has been the subject of several recent analyst reports. Citigroup upped their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Jefferies Financial Group upped their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Royal Bank of Canada lifted their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Loop Capital started coverage on shares of Palantir Technologies in a report on Thursday, February 20th. They set a “buy” rating and a $141.00 price objective for the company. Finally, Wedbush raised their price objective on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.21.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were 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 approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,689,783 shares of company stock valued at $475,417,043 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.