Los Angeles Capital Management LLC Buys 511,065 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Los Angeles Capital Management LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 163.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 823,423 shares of the company’s stock after purchasing an additional 511,065 shares during the period. Los Angeles Capital Management LLC’s holdings in Palantir Technologies were worth $62,275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Tritonpoint Wealth LLC raised its stake in shares of Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after purchasing an additional 132 shares in the last quarter. Twin Peaks Wealth Advisors LLC increased its holdings in shares of Palantir Technologies by 2.2% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock worth $493,000 after acquiring an additional 139 shares during the last quarter. Kennebec Savings Bank increased its holdings in shares of Palantir Technologies by 29.5% during the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after acquiring an additional 159 shares during the last quarter. HighMark Wealth Management LLC increased its holdings in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares during the last quarter. Finally, RMR Wealth Builders grew its holdings in Palantir Technologies by 2.4% in the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after buying an additional 167 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the completion of the sale, the insider now owns 170,273 shares in the company, valued at approximately $12,681,933.04. This trade represents a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the sale, the insider now owns 702,786 shares of the company’s stock, valued at $64,958,509.98. This trade represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,719,783 shares of company stock valued at $477,414,743 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Down 10.5 %

Palantir Technologies stock opened at $90.68 on Tuesday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The firm has a market capitalization 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. The firm’s fifty day moving average price is $86.17 and its two-hundred day moving average price is $60.27.

Analysts Set New Price Targets

A number of research analysts have commented on PLTR shares. Northland Securities upped their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Bank of America increased their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Royal Bank of Canada increased their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group increased their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $73.21.

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.