Birch Hill Investment Advisors LLC Buys Shares of 3,909 Palantir Technologies Inc. (NASDAQ:PLTR)

Birch Hill Investment Advisors LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,909 shares of the company’s stock, valued at approximately $296,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its position in 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 acquiring an additional 650 shares in the last quarter. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the 4th quarter worth $28,000. Wolff Wiese Magana LLC raised its holdings in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at $33,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PLTR has been the topic of several analyst reports. Northland Securities increased their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. DA Davidson increased their price target on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $69.44.

Insider Activity

In related news, insider Alexander C. Karp sold 1,823,602 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total value of $115,105,758.24. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $406,004,124.96. This trade represents a 22.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $66.77, for a total value of $650,740.42. Following the sale, the director now owns 111,644 shares of the company’s stock, valued at approximately $7,454,469.88. The trade was a 8.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,656,687 shares of company stock worth $1,040,105,687. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Down 0.4 %

Shares of PLTR opened at $110.85 on Friday. The company has a 50-day moving average price of $77.34 and a two-hundred day moving average price of $53.24. The stock has a market cap of $252.52 billion, a price-to-earnings ratio of 583.45, a P/E/G ratio of 11.44 and a beta of 2.81. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $116.30.

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.