Suncoast Equity Management Buys New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Suncoast Equity Management bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,000 shares of the company’s stock, valued at approximately $378,000.

A number of other institutional investors have also recently bought and sold shares of the business. Tritonpoint Wealth LLC lifted its holdings in shares of Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after acquiring an additional 132 shares during the period. Kennebec Savings Bank lifted its stake in Palantir Technologies by 29.5% during the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after purchasing an additional 159 shares during the period. HighMark Wealth Management LLC lifted its stake in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares during the period. RMR Wealth Builders boosted its holdings in Palantir Technologies by 2.4% during the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after purchasing an additional 167 shares in the last quarter. Finally, Bay Rivers Group grew its stake in shares of Palantir Technologies by 2.7% in the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after purchasing an additional 171 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In related news, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the transaction, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of Palantir Technologies stock in a transaction on Monday, November 25th. The stock was sold at an average price of $66.77, for a total transaction 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. In the last ninety days, insiders have sold 6,680,992 shares of company stock worth $473,395,877. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $106.27 on Friday. The firm has a 50 day simple moving average of $85.36 and a 200 day simple moving average of $58.84. 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 market cap of $242.09 billion, a P/E ratio of 559.35, a P/E/G ratio of 11.52 and a beta of 2.81.

Wall Street Analyst Weigh In

PLTR has been the subject of several analyst reports. Mizuho raised their target price on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Northland Securities increased their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Royal Bank of Canada boosted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Bank of America increased their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, Wedbush lifted their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $73.21.

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.