Allstate Corp Acquires Shares of 60,344 Palantir Technologies Inc. (NASDAQ:PLTR)

Allstate Corp bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 60,344 shares of the company’s stock, valued at approximately $4,564,000.

A number of other hedge funds have also made changes to their positions in PLTR. Mather Group LLC. increased its holdings in shares of Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after buying an additional 448 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at $876,000. Destiny Wealth Partners LLC bought a new position in Palantir Technologies in the 4th quarter valued at $3,233,000. Coldstream Capital Management Inc. bought a new position in Palantir Technologies in the 3rd quarter valued at $639,000. Finally, Kieckhefer Group LLC acquired a new position in Palantir Technologies in the fourth quarter worth $11,769,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

PLTR has been the subject of a number of research analyst reports. William Blair set a $84.00 price target on Palantir Technologies in a report on Wednesday, March 5th. Northland Securities boosted their target price 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. DA Davidson increased their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. UBS Group boosted their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Bank of America upped their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $74.45.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 483,987 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The stock was 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 in the company, valued at approximately $12,681,933.04. The trade was a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,379,785 shares of company stock valued at $281,528,938 over the last three months. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $85.85 on Friday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The stock has a market cap of $201.35 billion, a P/E ratio of 451.87, a P/E/G ratio of 10.84 and a beta of 2.81. The firm has a 50 day moving average price of $91.98 and a 200 day moving average price of $69.04.

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.