Washburn Capital Management Inc. Purchases Shares of 4,405 Palantir Technologies Inc. (NASDAQ:PLTR)

Washburn Capital Management Inc. acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,405 shares of the company’s stock, valued at approximately $333,000.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the period. Diversify Wealth Management LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $876,000. Mather Group LLC. boosted its stake in shares of Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after buying an additional 448 shares during the last quarter. Destiny Wealth Partners LLC acquired a new stake in Palantir Technologies during the fourth quarter worth about $3,233,000. Finally, State of Alaska Department of Revenue raised its position in Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after acquiring an additional 68,945 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Alexander C. Karp sold 1,823,602 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total value of $115,105,758.24. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $406,004,124.96. This trade represents a 22.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were 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 $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,656,687 shares of company stock valued at $1,040,105,687. 12.93% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLTR. Cantor Fitzgerald upped 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 target 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. Wedbush upped their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, Bank of America raised their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $69.44.

Palantir Technologies Trading Down 0.4 %

Shares of PLTR stock opened at $110.85 on Friday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $116.30. The stock has a market cap of $252.52 billion, a price-to-earnings ratio of 583.45, a PEG ratio of 11.44 and a beta of 2.81. The company’s 50-day moving average price is $77.34 and its 200-day moving average price is $53.42.

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.