AXQ Capital LP Buys New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

AXQ Capital LP purchased a new stake 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 institutional investor purchased 4,667 shares of the company’s stock, valued at approximately $353,000.

Several other institutional investors have also added to or reduced their stakes in the business. Marietta Investment Partners LLC boosted its position in Palantir Technologies by 83.8% during the fourth quarter. Marietta Investment Partners LLC now owns 76,847 shares of the company’s stock valued at $5,812,000 after buying an additional 35,039 shares during the period. Intellus Advisors LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at about $3,116,000. Sei Investments Co. boosted its position in Palantir Technologies by 7.1% during the fourth quarter. Sei Investments Co. now owns 356,878 shares of the company’s stock valued at $26,991,000 after buying an additional 23,549 shares during the period. Plancorp LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at about $556,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Palantir Technologies during the fourth quarter valued at about $36,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PLTR. Northland Securities upped their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. DA Davidson increased their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. UBS Group increased their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.45.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $90.96 on Monday. 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 50 day simple moving average of $89.55 and a two-hundred day simple moving average of $67.44. The company has a market capitalization of $213.33 billion, a price-to-earnings ratio of 478.76, a P/E/G ratio of 10.84 and a beta of 2.81.

Insider Buying and Selling at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,379,785 shares of company stock valued at $281,528,938. Corporate insiders own 12.93% of the company’s stock.

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.