Convergence Investment Partners LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Convergence Investment Partners LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 45,990 shares of the company’s stock, valued at approximately $3,478,000.

A number of other institutional investors have also recently bought and sold shares of the company. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies in the fourth quarter valued at $28,000. Wolff Wiese Magana LLC lifted its position in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. HighMark Wealth Management LLC boosted 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 buying an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC bought a new stake in Palantir Technologies in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PLTR shares. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. UBS Group upped their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Royal Bank of Canada raised their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. The Goldman Sachs Group upped their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Citigroup lifted their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $69.44.

Insider Buying and Selling

In other news, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,301,387 shares of company stock worth $575,821,045 over the last three months. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $124.62 on Wednesday. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.00. The stock has a market capitalization of $283.89 billion, a P/E ratio of 655.93, a price-to-earnings-growth ratio of 12.25 and a beta of 2.81. The stock has a fifty day moving average of $83.91 and a 200-day moving average of $58.13.

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.