Suncoast Equity Management Purchases New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Suncoast Equity Management acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $378,000.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in Palantir Technologies by 227.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 122,200 shares of the company’s stock valued at $4,546,000 after acquiring an additional 84,856 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Palantir Technologies in the 3rd quarter valued at approximately $62,000. Eastern Bank bought a new stake in Palantir Technologies during the 3rd quarter worth approximately $112,000. Waldron Private Wealth LLC acquired a new stake in Palantir Technologies during the 3rd quarter worth approximately $294,000. Finally, Commerzbank Aktiengesellschaft FI bought a new position in Palantir Technologies in the third quarter valued at approximately $284,000. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PLTR. Citigroup increased their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Robert W. Baird upped their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group lifted their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group boosted their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.21.

Insider Activity

In related news, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the sale, the insider now owns 512,006 shares in the company, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $66.77, for a total value of $650,740.42. Following the sale, the director now directly owns 111,644 shares of the company’s stock, valued at $7,454,469.88. This represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,680,992 shares of company stock valued at $473,395,877 in the last quarter. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Down 5.2 %

Shares of PLTR opened at $106.27 on Friday. The company’s fifty day simple moving average is $85.36 and its 200 day simple moving average is $58.84. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The company has a market cap of $242.09 billion, a price-to-earnings ratio of 559.35, a PEG ratio of 11.52 and a beta of 2.81.

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.