Fortis Capital Management LLC Buys 3,551 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Fortis Capital Management LLC lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 38.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,773 shares of the company’s stock after acquiring an additional 3,551 shares during the period. Fortis Capital Management LLC’s holdings in Palantir Technologies were worth $966,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PLTR. Prestige Wealth Management Group LLC raised its position in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares in the last quarter. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $28,000. Wolff Wiese Magana LLC raised its position in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC raised its position in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Up 4.1 %

PLTR opened at $90.96 on Friday. The company has a market cap of $213.33 billion, a P/E ratio of 478.76, a P/E/G ratio of 10.84 and a beta of 2.81. The business’s 50-day moving average price is $89.55 and its 200-day moving average price is $67.18. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent analyst reports. Cantor Fitzgerald increased their price objective on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. UBS Group increased their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. DA Davidson raised their price target on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.45.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.07, for a total value of $26,991,700.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $51,545.44. This trade represents a 99.81 % decrease in their ownership of the stock. The transaction 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 firm’s 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 completion of the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,379,785 shares of company stock valued at $281,528,938 over the last ninety days. 12.93% of the stock is owned by insiders.

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.