Latitude Advisors LLC Takes $410,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Latitude Advisors LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, Holdings Channel reports. The fund acquired 5,421 shares of the company’s stock, valued at approximately $410,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sovran Advisors LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $405,000. Peterson Wealth Services lifted its stake in shares of Palantir Technologies by 376,807.1% during the 4th quarter. Peterson Wealth Services now owns 52,767 shares of the company’s stock valued at $3,991,000 after buying an additional 52,753 shares in the last quarter. McBroom & Associates LLC boosted its holdings in Palantir Technologies by 2.3% in the 4th quarter. McBroom & Associates LLC now owns 74,354 shares of the company’s stock worth $5,623,000 after buying an additional 1,674 shares during the period. Hartline Investment Corp grew its stake in Palantir Technologies by 33.1% in the 4th quarter. Hartline Investment Corp now owns 182,984 shares of the company’s stock valued at $13,839,000 after buying an additional 45,469 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $408,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at $405,875,479.80. This represents a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of Palantir Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the sale, the director now owns 88,129 shares in the company, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,656,687 shares of company stock valued at $1,040,105,687 in the last quarter. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $116.65 on Tuesday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $116.76. The business has a 50 day moving average price of $77.34 and a 200-day moving average price of $53.60. The firm has a market cap of $265.73 billion, a PE ratio of 613.98, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Robert W. Baird increased their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Bank of America boosted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Northland Securities increased their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group upped their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $69.44.

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.