Summit Securities Group LLC Buys New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Summit Securities Group LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 452 shares of the company’s stock, valued at approximately $34,000.

Several other hedge funds have also recently added to or reduced their stakes in PLTR. Mather Group LLC. lifted its holdings in Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after buying an additional 448 shares during the period. Diversify Wealth Management LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $876,000. Destiny Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $3,233,000. Coldstream Capital Management Inc. acquired a new stake in Palantir Technologies during the third quarter worth approximately $639,000. Finally, Kieckhefer Group LLC bought a new stake in Palantir Technologies in the fourth quarter worth approximately $11,769,000. Institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan D. Taylor sold 483,987 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the transaction, 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 ownership of the stock. 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. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Down 4.7 %

Shares of NASDAQ PLTR opened at $85.85 on Monday. The company has a market capitalization of $201.35 billion, a PE ratio of 451.87, a PEG ratio of 10.84 and a beta of 2.81. The stock’s 50 day moving average price is $91.98 and its 200-day moving average price is $69.53. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41.

Wall Street Analyst Weigh In

Several analysts have recently commented on PLTR shares. Citigroup raised their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Robert W. Baird raised their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a report on Wednesday, March 5th. Cantor Fitzgerald raised their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Mizuho boosted their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $74.45.

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.