Ingalls & Snyder LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Ingalls & Snyder LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,491 shares of the company’s stock, valued at approximately $340,000.

Several other hedge funds have also modified their holdings of the stock. Warren Street Wealth Advisors LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at $365,000. Naples Global Advisors LLC raised its stake in Palantir Technologies by 4.6% in the fourth quarter. Naples Global Advisors LLC now owns 12,550 shares of the company’s stock valued at $949,000 after buying an additional 550 shares in the last quarter. Van ECK Associates Corp raised its stake in Palantir Technologies by 0.7% in the fourth quarter. Van ECK Associates Corp now owns 2,687,863 shares of the company’s stock valued at $203,283,000 after buying an additional 18,022 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Palantir Technologies by 46.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,499 shares of the company’s stock valued at $13,421,000 after buying an additional 56,299 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC raised its stake in Palantir Technologies by 39.5% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 17,575 shares of the company’s stock valued at $1,329,000 after buying an additional 4,977 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 1.1 %

Shares of PLTR opened at $119.16 on Friday. The stock’s 50 day moving average is $81.05 and its two-hundred day moving average is $55.71. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $120.67. The firm has a market capitalization of $271.45 billion, a PE ratio of 627.19, a P/E/G ratio of 11.44 and a beta of 2.81.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, December 11th. The shares were 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 directly owns 592 shares in the company, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $50,128,019.74. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,346,976 shares of company stock worth $642,660,729. Company insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PLTR. UBS Group raised their price target on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Northland Securities raised their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Jefferies Financial Group raised their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Mizuho lifted their target price on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $69.44.

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.