Maridea Wealth Management LLC Buys Shares of 4,349 Palantir Technologies Inc. (NASDAQ:PLTR)

Maridea Wealth Management LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,349 shares of the company’s stock, valued at approximately $329,000.

A number of other hedge funds have also modified their holdings of PLTR. State Street Corp boosted its stake in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. Norges Bank purchased a new position in shares of Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Charles Schwab Investment Management Inc. boosted its position in shares of Palantir Technologies by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock worth $986,431,000 after purchasing an additional 655,815 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Palantir Technologies by 10.9% in the fourth quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock valued at $971,367,000 after purchasing an additional 1,262,479 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $85.85 on Friday. The stock’s 50-day simple moving average is $91.98 and its 200-day simple moving average is $69.28. The firm has a market capitalization of $201.35 billion, a PE ratio of 451.87, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41.

Analysts Set New Price Targets

Several research firms have recently commented on PLTR. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Loop Capital lowered their target price on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Royal Bank of Canada lifted their target price on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Robert W. Baird increased their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Citigroup lifted their price objective 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. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average price target of $74.45.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 170,273 shares of the company’s stock, valued at $12,681,933.04. This represents a 73.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is owned by corporate insiders.

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.