Bear Mountain Capital Inc. Boosts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Bear Mountain Capital Inc. raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 760.7% during the fourth quarter, Holdings Channel reports. The fund owned 964 shares of the company’s stock after buying an additional 852 shares during the period. Bear Mountain Capital Inc.’s holdings in Palantir Technologies were worth $76,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Palantir Technologies by 227.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 122,200 shares of the company’s stock valued at $4,546,000 after buying an additional 84,856 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies during the third quarter valued at approximately $25,000. Whittier Trust Co. increased its stake in shares of Palantir Technologies by 1.1% in the 3rd quarter. Whittier Trust Co. now owns 57,526 shares of the company’s stock worth $2,140,000 after acquiring an additional 600 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Palantir Technologies during the 3rd quarter valued at approximately $62,000. Finally, Raleigh Capital Management Inc. grew its position in Palantir Technologies by 211.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,971 shares of the company’s stock valued at $73,000 after purchasing an additional 1,339 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the company’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 transaction of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,301,387 shares of company stock valued at $575,821,045 over the last three months. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $112.06 on Thursday. The firm has a market capitalization of $255.27 billion, a price-to-earnings ratio of 589.82, a PEG ratio of 12.81 and a beta of 2.81. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The company’s 50 day moving average price is $84.70 and its 200 day moving average price is $58.51.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLTR. The Goldman Sachs Group boosted their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Jefferies Financial Group boosted their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $69.44.

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.