Wellington Shields Capital Management LLC Buys 3,250 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Wellington Shields Capital Management LLC boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 125.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,850 shares of the company’s stock after acquiring an additional 3,250 shares during the period. Wellington Shields Capital Management LLC’s holdings in Palantir Technologies were worth $442,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PLTR. Prestige Wealth Management Group LLC boosted its position in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies in the 4th quarter worth about $28,000. Wolff Wiese Magana LLC raised its position in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC lifted its holdings in shares of 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 acquiring an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 8.3 %

Shares of Palantir Technologies stock opened at $86.24 on Friday. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The stock’s fifty day moving average price is $87.83 and its 200-day moving average price is $64.98. The firm has a market cap of $202.26 billion, a P/E ratio of 453.92, a P/E/G ratio of 10.84 and a beta of 2.81.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the sale, the insider now owns 170,273 shares of the company’s stock, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was 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 of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,069,785 shares of company stock worth $254,537,238 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PLTR. Robert W. Baird raised their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Wedbush restated an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a research report on Monday, March 3rd. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. DA Davidson raised their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Cantor Fitzgerald upped their price target 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. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $74.45.

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.