Central Asset Investments & Management Holdings HK Ltd Acquires New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Central Asset Investments & Management Holdings HK Ltd bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,554 shares of the company’s stock, valued at approximately $949,000.

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

Palantir Technologies Stock Performance

Shares of PLTR opened at $89.31 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The firm has a 50 day moving average price of $86.79 and a 200-day moving average price of $60.88. The firm 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.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PLTR. Wedbush lifted their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group boosted their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Finally, Citigroup increased their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.21.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the transaction, the director now owns 100,923 shares in the company, valued at $7,748,867.94. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,719,783 shares of company stock valued at $477,414,743 over the last three months. Insiders own 12.93% of the company’s stock.

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.