Transcendent Capital Group LLC Increases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Transcendent Capital Group LLC raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 43.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,019 shares of the company’s stock after purchasing an additional 3,959 shares during the period. Transcendent Capital Group LLC’s holdings in Palantir Technologies were worth $985,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PLTR. Pine Valley Investments Ltd Liability Co raised its holdings in shares of Palantir Technologies by 42.0% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 64,014 shares of the company’s stock valued at $4,841,000 after purchasing an additional 18,943 shares during the last quarter. Prasad Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at $4,525,000. BankPlus Trust Department purchased a new stake in Palantir Technologies in the 4th quarter worth $390,000. Quartz Partners LLC raised its holdings in Palantir Technologies by 3.9% during the fourth quarter. Quartz Partners LLC now owns 7,288 shares of the company’s stock valued at $551,000 after acquiring an additional 273 shares during the period. Finally, Rothschild Investment LLC lifted its position in shares of Palantir Technologies by 22.9% in the fourth quarter. Rothschild Investment LLC now owns 8,454 shares of the company’s stock valued at $639,000 after acquiring an additional 1,573 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLTR. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America lifted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Citigroup upped their target price 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. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada increased their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating 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 issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $73.21.

Palantir Technologies Trading Down 10.5 %

PLTR stock opened at $90.68 on Tuesday. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The stock has a market cap of $206.57 billion, a PE ratio of 477.29, a P/E/G ratio of 10.84 and a beta of 2.81. The company has a 50-day moving average price of $86.17 and a 200 day moving average price of $60.27.

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at approximately $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 worth $477,414,743 over the last 90 days. Company insiders own 12.93% of the company’s stock.

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.