Summit Global Investments Buys Shares of 10,256 Palantir Technologies Inc. (NASDAQ:PLTR)

Summit Global Investments bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 10,256 shares of the company’s stock, valued at approximately $776,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. TD Private Client Wealth LLC increased its holdings in Palantir Technologies by 14.2% during the 4th quarter. TD Private Client Wealth LLC now owns 5,417 shares of the company’s stock valued at $410,000 after acquiring an additional 672 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in Palantir Technologies during the 4th quarter valued at about $38,000. Goodman Financial Corp purchased a new position in Palantir Technologies during the 4th quarter valued at about $378,000. Kiker Wealth Management LLC purchased a new position in Palantir Technologies during the 4th quarter valued at about $950,000. Finally, Clear Investment Research LLC purchased a new position in Palantir Technologies during the 4th quarter valued at about $93,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on PLTR. UBS Group raised their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Northland Securities raised their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Bank of America raised their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Citigroup raised their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, DA Davidson raised their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $74.45.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 483,987 shares of Palantir Technologies stock in a transaction that occurred on 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 sale, the insider now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now owns 512,006 shares in the company, valued at $59,372,215.76. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,379,785 shares of company stock valued at $281,528,938 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 4.1 %

Shares of PLTR stock opened at $90.96 on Monday. The stock has a market cap of $213.33 billion, a price-to-earnings ratio of 478.76, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The firm’s 50 day moving average price is $89.55 and its two-hundred day moving average price is $67.44.

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.