Northeast Investment Management Invests $246,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Northeast Investment Management purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, Holdings Channel reports. The fund purchased 3,250 shares of the company’s stock, valued at approximately $246,000.

A number of other institutional investors also recently bought and sold shares of PLTR. Tritonpoint Wealth LLC lifted its stake 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 worth $537,000 after acquiring an additional 132 shares during the last quarter. Kennebec Savings Bank increased its stake in Palantir Technologies by 29.5% in the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after purchasing an additional 159 shares during the period. RMR Wealth Builders lifted its position in shares of Palantir Technologies by 2.4% during the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after purchasing an additional 167 shares during the last quarter. Bay Rivers Group boosted its stake in shares of Palantir Technologies by 2.7% during the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after purchasing an additional 171 shares during the period. Finally, Christensen King & Associates Investment Services Inc. grew its holdings in shares of Palantir Technologies by 3.0% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after purchasing an additional 174 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PLTR. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada increased their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Mizuho raised their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $110.85 on Friday. The stock has a market capitalization of $252.52 billion, a price-to-earnings ratio of 583.45, a PEG ratio of 11.44 and a beta of 2.81. The business has a fifty day moving average price of $77.34 and a 200-day moving average price of $53.24. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $116.30.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 1,823,602 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $406,004,124.96. The trade was a 22.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,656,687 shares of company stock worth $1,040,105,687 in the last 90 days. Corporate insiders own 12.93% of the company’s stock.

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.