Signature Estate & Investment Advisors LLC Acquires New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Signature Estate & Investment Advisors LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,931 shares of the company’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PLTR. DRW Securities LLC bought a new position in shares of Palantir Technologies in the third quarter worth approximately $213,000. Private Trust Co. NA increased its holdings in shares of Palantir Technologies by 14.2% in the 3rd quarter. Private Trust Co. NA now owns 5,903 shares of the company’s stock worth $220,000 after buying an additional 736 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Palantir Technologies by 991.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,238,026 shares of the company’s stock valued at $46,055,000 after buying an additional 1,124,595 shares in the last quarter. FMR LLC lifted its holdings in shares of Palantir Technologies by 8.8% during the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after acquiring an additional 1,004,603 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Palantir Technologies in the third quarter worth $1,221,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLTR. Wedbush restated an “outperform” rating and set a $120.00 price target on shares of Palantir Technologies in a research report on Monday, March 3rd. Bank of America boosted their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Royal Bank of Canada increased their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. William Blair set a $84.00 price target on shares of Palantir Technologies in a research note on Wednesday, March 5th. Finally, Citigroup upped their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $74.45.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $51,545.44. This trade represents a 99.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the sale, the insider now directly owns 170,273 shares in the company, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,379,785 shares of company stock worth $281,528,938. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

PLTR stock opened at $90.09 on Friday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The company has a market capitalization of $211.29 billion, a price-to-earnings ratio of 474.18, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The business’s 50 day moving average price is $91.70 and its two-hundred day moving average price is $68.69.

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.