Truvestments Capital LLC Grows Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Truvestments Capital LLC grew its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,311 shares of the company’s stock after acquiring an additional 142 shares during the quarter. Truvestments Capital LLC’s holdings in Palantir Technologies were worth $931,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PLTR. Prestige Wealth Management Group LLC grew its holdings in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the last quarter. Roxbury Financial LLC bought a new position in Palantir Technologies during the 4th quarter worth about $27,000. First PREMIER Bank bought a new position in Palantir Technologies during the 4th quarter worth about $28,000. Wolff Wiese Magana LLC grew its holdings in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC grew its holdings in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald raised their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Bank of America lifted their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Citigroup lifted their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Finally, Mizuho lifted their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $75.25.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $78.05 on Wednesday. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The business has a 50 day simple moving average of $87.46 and a 200-day simple moving average of $64.35. The stock has a market capitalization of $183.06 billion, a PE ratio of 410.81, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the sale, the insider now owns 170,273 shares of the company’s stock, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $43,908.64. This trade represents a 99.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 985,838 shares of company stock worth $75,333,389. 12.93% of the stock is owned by corporate insiders.

About Palantir Technologies

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.