Zullo Investment Group Inc. Raises Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Zullo Investment Group Inc. raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,684 shares of the company’s stock after acquiring an additional 746 shares during the quarter. Zullo Investment Group Inc.’s holdings in Palantir Technologies were worth $657,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PLTR. Tritonpoint Wealth LLC raised its stake in Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after purchasing an additional 132 shares during the period. Kennebec Savings Bank grew its holdings in Palantir Technologies by 29.5% during the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after buying an additional 159 shares in the last quarter. HighMark Wealth Management LLC raised its position in shares of Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares during the last quarter. RMR Wealth Builders lifted its holdings in shares of Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after buying an additional 167 shares in the last quarter. Finally, Bay Rivers Group lifted its holdings in shares of Palantir Technologies by 2.7% in the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after buying an additional 171 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on PLTR shares. Northland Securities lifted their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Mizuho increased their price target on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Royal Bank of Canada lifted their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, Citigroup increased their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $69.44.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $112.06 on Thursday. The stock has a 50 day moving average price of $84.70 and a 200 day moving average price of $58.51. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The firm has a market capitalization of $255.27 billion, a P/E ratio of 589.82, a P/E/G ratio of 12.81 and a beta of 2.81.

Insiders Place Their Bets

In other news, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 1,620,395 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $63.21, for a total value of $102,425,167.95. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $406,583,028.18. The trade was a 20.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,301,387 shares of company stock worth $575,821,045 over the last quarter. Company insiders own 12.93% of the company’s stock.

Palantir Technologies 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.