United Bank Invests $260,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

United Bank acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,435 shares of the company’s stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also modified their holdings of PLTR. Prestige Wealth Management Group LLC boosted its position in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the last quarter. Roxbury Financial LLC acquired a new position in Palantir Technologies in the fourth quarter valued at about $27,000. First PREMIER Bank acquired a new stake in Palantir Technologies during the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC lifted its position in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC raised its position in Palantir Technologies by 73.5% in the 4th 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. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Price Performance

PLTR opened at $85.85 on Friday. The company has a market capitalization of $201.35 billion, a price-to-earnings ratio of 451.87, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The firm’s fifty day moving average price is $91.98 and its two-hundred day moving average price is $69.28.

Insider Activity at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 310,000 shares of Palantir Technologies stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $51,545.44. This trade represents a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PLTR. Wedbush restated an “outperform” rating and set a $120.00 target price on shares of Palantir Technologies in a report on Monday, March 3rd. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Bank of America lifted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Loop Capital reduced their price target on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Finally, UBS Group lifted their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.45.

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.