Mattern Capital Management LLC Takes $345,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Mattern Capital Management LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,556 shares of the company’s stock, valued at approximately $345,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in Palantir Technologies by 227.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 122,200 shares of the company’s stock worth $4,546,000 after purchasing an additional 84,856 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $62,000. Eastern Bank purchased a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $112,000. Waldron Private Wealth LLC purchased a new stake in shares of Palantir Technologies in the 3rd quarter worth approximately $294,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Palantir Technologies in the 3rd quarter worth approximately $284,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction dated 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 sale, the director now owns 88,129 shares of the company’s stock, valued at $9,059,661.20. This represents a 11.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 512,006 shares in the company, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,680,992 shares of company stock worth $473,395,877 over the last ninety days. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $106.27 on Friday. The firm’s 50 day simple moving average is $85.36 and its 200-day simple moving average is $58.84. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The company has a market cap of $242.09 billion, a P/E ratio of 559.35, a price-to-earnings-growth ratio of 11.52 and a beta of 2.81.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PLTR shares. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Bank of America boosted their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Wedbush boosted their price target on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Mizuho upped their price target on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, Loop Capital initiated coverage on shares of Palantir Technologies in a report on Thursday. They issued a “buy” rating and a $141.00 price target on the stock. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.21.

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.