Gibraltar Capital Management Inc. Buys New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Gibraltar Capital Management Inc. purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,663 shares of the company’s stock, valued at approximately $201,000.

A number of other institutional investors also recently modified their holdings of PLTR. State Street Corp boosted its stake in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after buying an additional 2,984,348 shares during the period. Finally, Principal Financial Group Inc. increased its position in Palantir Technologies by 226.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after buying an additional 1,969,213 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $66.59, for a total value of $1,997,700.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $50,128,019.74. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,719,783 shares of company stock valued at $477,414,743 in the last three months. Company insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLTR. Robert W. Baird increased their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Royal Bank of Canada upped their target price 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. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Loop Capital assumed coverage on Palantir Technologies in a research note on Thursday, February 20th. They issued a “buy” rating and a $141.00 price objective for the company. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.21.

Palantir Technologies Stock Down 3.1 %

Shares of NASDAQ PLTR opened at $87.84 on Wednesday. The company has a market cap of $200.10 billion, a P/E ratio of 462.34, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The business has a 50-day simple moving average of $86.44 and a two-hundred day simple moving average of $60.68.

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.