Empowered Funds LLC Has $6.43 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Empowered Funds LLC raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 16.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,969 shares of the company’s stock after purchasing an additional 11,874 shares during the quarter. Empowered Funds LLC’s holdings in Palantir Technologies were worth $6,426,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. First PREMIER Bank bought a new position in Palantir Technologies in the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC boosted its position in shares of Palantir Technologies by 230.4% during the fourth 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 last quarter. R Squared Ltd bought a new stake in Palantir Technologies during the fourth quarter worth $33,000. Valley National Advisers Inc. raised its position in Palantir Technologies by 181.3% in the 4th quarter. Valley National Advisers Inc. now owns 512 shares of the company’s stock valued at $38,000 after buying an additional 330 shares during the last quarter. Finally, Concord Wealth Partners raised its position in Palantir Technologies by 132.2% in the 4th quarter. Concord Wealth Partners now owns 527 shares of the company’s stock valued at $40,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Up 5.2 %

Shares of NASDAQ PLTR opened at $116.65 on Tuesday. The business has a 50-day simple moving average of $77.34 and a two-hundred day simple moving average of $53.60. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $116.76. The company has a market cap of $265.73 billion, a P/E ratio of 613.98, a P/E/G ratio of 11.44 and a beta of 2.81.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PLTR. Mizuho upped their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. 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. Northland Securities lifted their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. Finally, Cantor Fitzgerald upped their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $69.44.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of Palantir Technologies stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the sale, the director now owns 88,129 shares of the company’s stock, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 6,432,258 shares in the company, valued at $405,875,479.80. This represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,656,687 shares of company stock worth $1,040,105,687. 12.93% of the stock is owned by company insiders.

About Palantir Technologies

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.