Weatherly Asset Management L. P. Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Weatherly Asset Management L. P. purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,372 shares of the company’s stock, valued at approximately $255,000.

A number of other institutional investors also recently added to or reduced their stakes in PLTR. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Palantir Technologies by 298.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 15,519 shares of the company’s stock worth $577,000 after buying an additional 11,629 shares in the last quarter. Retirement Planning Group LLC raised its stake in shares of Palantir Technologies by 9.3% in the 3rd quarter. Retirement Planning Group LLC now owns 21,327 shares of the company’s stock worth $793,000 after buying an additional 1,810 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Palantir Technologies by 11.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 114,589 shares of the company’s stock worth $4,263,000 after buying an additional 11,708 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of Palantir Technologies by 21.4% in the 3rd quarter. Sound Income Strategies LLC now owns 3,481 shares of the company’s stock worth $130,000 after buying an additional 613 shares in the last quarter. Finally, Armstrong Advisory Group Inc. raised its stake in shares of Palantir Technologies by 118.4% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 6,559 shares of the company’s stock worth $244,000 after buying an additional 3,556 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on PLTR shares. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Citigroup boosted their target price on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Stock Performance

PLTR opened at $116.65 on Tuesday. The company has a market cap of $265.73 billion, a PE ratio of 613.98, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81. The stock has a 50-day moving average of $77.34 and a 200-day moving average of $53.60. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $116.76.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $42,002.40. This represents a 99.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.10, for a total value of $283,950,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. The trade was a 41.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,656,687 shares of company stock worth $1,040,105,687. 12.93% of the stock is owned by corporate insiders.

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.