Bedel Financial Consulting Inc. Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Bedel Financial Consulting Inc. bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 7,828 shares of the company’s stock, valued at approximately $592,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Steward Partners Investment Advisory LLC increased its holdings in shares of Palantir Technologies by 47.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 202,442 shares of the company’s stock worth $15,311,000 after buying an additional 65,285 shares during the last quarter. WMG Financial Advisors LLC acquired a new stake in Palantir Technologies during the fourth quarter worth $225,000. Gryphon Financial Partners LLC increased its stake in Palantir Technologies by 14.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 7,998 shares of the company’s stock worth $605,000 after acquiring an additional 1,017 shares during the last quarter. Mission Wealth Management LP increased its stake in Palantir Technologies by 13.7% during the fourth quarter. Mission Wealth Management LP now owns 10,528 shares of the company’s stock worth $796,000 after acquiring an additional 1,270 shares during the last quarter. Finally, Silver Coast Investments LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $284,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,439,783 shares of company stock worth $107,497,043. Corporate insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on PLTR shares. Wedbush reissued an “outperform” rating and set a $120.00 price objective on shares of Palantir Technologies in a research report on Monday. 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. Robert W. Baird lifted their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” 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. Finally, 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. Six investment 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.com, the company currently has a consensus rating of “Hold” and an average price target of $74.79.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $83.42 on Tuesday. The stock has a 50-day simple moving average of $87.14 and a 200-day simple moving average of $62.23. The stock has a market cap of $190.03 billion, a P/E ratio of 439.08, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41.

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.