Palantir Technologies Inc. (NASDAQ:PLTR) Stake Raised by Avalon Capital Management

Avalon Capital Management boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 39.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,850 shares of the company’s stock after purchasing an additional 2,500 shares during the period. Avalon Capital Management’s holdings in Palantir Technologies were worth $669,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies in the fourth quarter worth about $27,000. First PREMIER Bank purchased a new position in Palantir Technologies during the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC lifted its position in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares in the last quarter. HighMark Wealth Management LLC increased its stake 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 period. Finally, Sierra Ocean LLC purchased a new stake in Palantir Technologies in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

PLTR opened at $90.68 on Tuesday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The firm has a market cap of $206.57 billion, a PE 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 is $86.17 and its two-hundred day moving average is $60.27.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent research reports. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Citigroup raised their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Finally, Loop Capital started coverage on shares of Palantir Technologies in a research report on Thursday, February 20th. They set a “buy” rating and a $141.00 target price on the stock. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $73.21.

Insider Buying and Selling

In related 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 sale, the insider now owns 592 shares in the company, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $66.59, for a total value of $1,997,700.00. Following the completion of the sale, the insider now directly 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,719,783 shares of company stock valued at $477,414,743. Company insiders own 12.93% of the company’s stock.

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.