Gabelli Funds LLC Buys Shares of 23,000 Palantir Technologies Inc. (NASDAQ:PLTR)

Gabelli Funds LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 23,000 shares of the company’s stock, valued at approximately $1,739,000.

A number of other hedge funds also recently bought and sold shares of PLTR. Roxbury Financial LLC bought a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $27,000. First PREMIER Bank purchased a new position in Palantir Technologies during the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its position in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. HighMark Wealth Management LLC raised its position in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares during the period. Finally, Sierra Ocean LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 1.2 %

Shares of NASDAQ PLTR opened at $93.78 on Friday. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The stock’s fifty day simple moving average is $91.18 and its two-hundred day simple moving average is $74.75. The stock has a market capitalization of $219.95 billion, a PE ratio of 493.60, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 18,537 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $102.32, for a total value of $1,896,705.84. Following the completion of the sale, the insider now owns 493,469 shares of the company’s stock, valued at approximately $50,491,748.08. This trade represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock valued at $253,328,090 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PLTR shares. Robert W. Baird raised their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Bank of America boosted their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Mizuho lifted their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Jefferies Financial Group upped their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target on the stock. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $74.71.

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.