BankPlus Trust Department Invests $390,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

BankPlus Trust Department purchased 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 and Exchange Commission. The institutional investor purchased 5,154 shares of the company’s stock, valued at approximately $390,000.

Several other hedge funds have also recently modified their holdings of the business. Prestige Wealth Management Group LLC lifted its position in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies in the fourth quarter worth $27,000. First PREMIER Bank purchased a new position in shares of Palantir Technologies in the fourth quarter worth $28,000. Wolff Wiese Magana LLC raised its holdings 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 buying an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC raised its holdings in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,719,783 shares of company stock worth $477,414,743 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. Citigroup increased their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Northland Securities increased their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Finally, Bank of America increased their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $73.21.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $90.68 on Tuesday. The stock has a market cap of $206.57 billion, a P/E ratio of 477.29, a P/E/G ratio of 10.84 and a beta of 2.81. The firm has a fifty day moving average price of $86.17 and a 200 day moving average price of $60.27. 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.