42,567 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Acquired by Twin Capital Management Inc.

Twin Capital Management Inc. bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 42,567 shares of the company’s stock, valued at approximately $3,219,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Heritage Wealth Management Inc. CA boosted its stake in Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after buying an additional 111 shares in the last quarter. Westover Capital Advisors LLC boosted its stake in shares of Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after purchasing an additional 130 shares in the last quarter. Tritonpoint Wealth LLC grew its holdings in shares of Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after purchasing an additional 132 shares during the last quarter. Twin Peaks Wealth Advisors LLC increased its position in Palantir Technologies by 2.2% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock worth $493,000 after purchasing an additional 139 shares in the last quarter. Finally, Truvestments Capital LLC increased its holdings in shares of Palantir Technologies by 1.2% during the fourth quarter. Truvestments Capital LLC now owns 12,311 shares of the company’s stock worth $931,000 after buying an additional 142 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,993,175 shares of company stock worth $253,549,610. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Trading Down 11.5 %

Shares of PLTR opened at $74.01 on Monday. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The stock has a 50 day moving average of $92.67 and a 200 day moving average of $71.18. The company has a market capitalization of $173.58 billion, a price-to-earnings ratio of 389.55, a PEG ratio of 10.84 and a beta of 2.74.

Analysts Set New Price Targets

Several research firms have recently weighed in on PLTR. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Loop Capital restated a “buy” rating on shares of Palantir Technologies in a research report on Friday. Cantor Fitzgerald upped their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Royal Bank of Canada boosted their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $75.19.

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.