CIBC Asset Management Inc Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

CIBC Asset Management Inc increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 130.3% in the fourth quarter, Holdings Channel reports. The fund owned 682,168 shares of the company’s stock after purchasing an additional 385,992 shares during the quarter. CIBC Asset Management Inc’s holdings in Palantir Technologies were worth $51,592,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Roxbury Financial LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $27,000. First PREMIER Bank bought a new stake in Palantir Technologies during the 4th quarter valued at $28,000. Wolff Wiese Magana LLC increased its holdings in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the period. Sierra Ocean LLC bought a new position in shares of Palantir Technologies in the 4th quarter worth $31,000. Finally, R Squared Ltd purchased a new stake in shares of Palantir Technologies during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PLTR shares. Jefferies Financial Group lifted their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Wedbush increased their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Royal Bank of Canada lifted their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Cantor Fitzgerald increased their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Citigroup upped their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $69.44.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 38,093 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $405,296,576.58. This represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction on 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 completion of the transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,339,480 shares of company stock worth $578,221,285 over the last quarter. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $119.16 on Monday. The business’s 50-day moving average is $81.90 and its two-hundred day moving average is $56.77. The company has a market capitalization of $271.45 billion, a P/E ratio of 627.19, a P/E/G ratio of 11.44 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $120.67.

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.