Allstate Corp Purchases Shares of 60,344 Palantir Technologies Inc. (NASDAQ:PLTR)

Allstate Corp purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 60,344 shares of the company’s stock, valued at approximately $4,564,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Mather Group LLC. lifted its stake in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after acquiring an additional 448 shares in the last quarter. Diversify Wealth Management LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth $876,000. Destiny Wealth Partners LLC acquired a new position in Palantir Technologies during the fourth quarter worth $3,233,000. Coldstream Capital Management Inc. bought a new position in Palantir Technologies in the third quarter valued at $639,000. Finally, Kieckhefer Group LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at $11,769,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLTR has been the subject of several analyst reports. UBS Group raised their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. William Blair set a $84.00 price target on Palantir Technologies in a research note on Wednesday, March 5th. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Mizuho increased their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Finally, Wedbush restated an “outperform” rating and set a $120.00 target price on shares of Palantir Technologies in a report on Monday, March 3rd. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.45.

Palantir Technologies Trading Down 4.7 %

NASDAQ:PLTR opened at $85.85 on Friday. The stock has a 50 day simple moving average of $91.98 and a 200 day simple moving average of $69.04. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The stock has a market cap of $201.35 billion, a P/E ratio of 451.87, a PEG ratio of 10.84 and a beta of 2.81.

Insider Transactions at Palantir Technologies

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

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.