Cascades Capital Asset Management LLC Invests $294,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Cascades Capital Asset Management LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,889 shares of the company’s stock, valued at approximately $294,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in shares of Palantir Technologies by 170.0% in the third quarter. Janus Henderson Group PLC now owns 373,534 shares of the company’s stock valued at $13,897,000 after acquiring an additional 235,168 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $280,000. Royal London Asset Management Ltd. increased its holdings in shares of Palantir Technologies by 3.3% during the third quarter. Royal London Asset Management Ltd. now owns 838,215 shares of the company’s stock worth $31,182,000 after purchasing an additional 26,861 shares during the period. Readystate Asset Management LP acquired a new stake in shares of Palantir Technologies in the third quarter valued at approximately $337,000. Finally, Quarry LP boosted its stake in shares of Palantir Technologies by 27.8% in the third quarter. Quarry LP now owns 5,367 shares of the company’s stock valued at $200,000 after buying an additional 1,167 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on PLTR. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Northland Securities boosted their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating 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. Royal Bank of Canada boosted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Finally, Cantor Fitzgerald lifted their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $75.19.

Palantir Technologies Stock Down 11.5 %

NASDAQ PLTR opened at $74.01 on Friday. The company has a market capitalization of $173.58 billion, a price-to-earnings ratio of 389.55, a PEG ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The stock has a fifty day simple moving average of $92.67 and a 200 day simple moving average of $70.70.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the sale, the insider now owns 403,171 shares of the company’s stock, valued at approximately $33,382,558.80. This trade represents a 19.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,993,175 shares of company stock worth $253,549,610. Insiders own 12.93% of the company’s stock.

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.