Cibc World Markets Corp Has $28.51 Million Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Cibc World Markets Corp increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 37.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 376,997 shares of the company’s stock after acquiring an additional 102,994 shares during the period. Cibc World Markets Corp’s holdings in Palantir Technologies were worth $28,512,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Addison Capital Co bought a new position in Palantir Technologies in the 4th quarter valued at $352,000. IMG Wealth Management Inc. bought a new position in shares of Palantir Technologies in the 4th quarter worth $92,000. SlateStone Wealth LLC boosted its position in shares of Palantir Technologies by 0.7% in the 4th quarter. SlateStone Wealth LLC now owns 108,654 shares of the company’s stock worth $8,218,000 after purchasing an additional 792 shares during the last quarter. GWN Securities Inc. bought a new position in shares of Palantir Technologies in the 4th quarter worth $312,000. Finally, Glenview Trust co bought a new position in shares of Palantir Technologies in the 4th quarter worth $358,000. 45.65% of the stock is currently owned by institutional investors.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the completion of the transaction, the insider now owns 702,786 shares in the company, valued at approximately $64,958,509.98. This trade represents a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $85.30, for a total value of $106,625,000.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at $50,497.60. The trade was a 99.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,069,785 shares of company stock valued at $254,537,238. 12.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLTR. Bank of America raised their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Robert W. Baird raised their price objective on 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 raised their price objective on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Citigroup raised their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, William Blair set a $84.00 price objective on Palantir Technologies in a research note on Wednesday, March 5th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average target price of $74.45.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $86.24 on Monday. The stock’s 50-day simple moving average is $87.83 and its 200 day simple moving average is $65.46. The company has a market cap of $202.26 billion, a P/E ratio of 453.92, 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.

About Palantir Technologies

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.