Denali Advisors LLC Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Denali Advisors LLC bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, HoldingsChannel.com reports. The fund bought 28,530 shares of the company’s stock, valued at approximately $2,158,000.

Several other large investors have also recently made changes to their positions in PLTR. Tritonpoint Wealth LLC grew its position in Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after buying an additional 132 shares during the period. Twin Peaks Wealth Advisors LLC boosted its stake in shares of Palantir Technologies by 2.2% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock worth $493,000 after acquiring an additional 139 shares in the last quarter. Kennebec Savings Bank grew its position in shares of Palantir Technologies by 29.5% during the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after acquiring an additional 159 shares during the period. HighMark Wealth Management LLC increased its stake in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. Finally, RMR Wealth Builders raised its holdings in Palantir Technologies by 2.4% in the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after purchasing an additional 167 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 592 shares in the company, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 30,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $50,128,019.74. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,719,783 shares of company stock valued at $477,414,743 in the last three months. 12.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wedbush raised their price objective on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Citigroup upped 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. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Finally, Robert W. Baird boosted 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. Six equities research 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. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average target price of $73.21.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $89.31 on Thursday. The business’s 50 day moving average price is $86.79 and its 200 day moving average price is $60.88. The company has a market cap of $203.45 billion, a price-to-earnings ratio of 470.08, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41.

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.