Navellier & Associates Inc. Purchases 8,022 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Navellier & Associates Inc. increased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 30.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,961 shares of the company’s stock after purchasing an additional 8,022 shares during the quarter. Navellier & Associates Inc.’s holdings in Palantir Technologies were worth $2,568,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. lifted its position in Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after purchasing an additional 448 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the period. Diversify Wealth Management LLC bought a new position in Palantir Technologies in the fourth quarter worth $876,000. Destiny Wealth Partners LLC bought a new position in Palantir Technologies in the fourth quarter worth $3,233,000. Finally, State of Alaska Department of Revenue lifted its position in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares during the period. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Down 4.6 %

Shares of PLTR stock opened at $101.33 on Friday. The stock has a 50-day moving average price of $85.87 and a 200 day moving average price of $59.37. The firm has a market cap of $230.84 billion, a price-to-earnings ratio of 533.36, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares in the company, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,680,992 shares of company stock worth $473,395,877 over the last three months. 12.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PLTR shares. Bank of America lifted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Citigroup lifted their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Northland Securities lifted their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $73.21.

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.