ACG Wealth purchased a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,453 shares of the company’s stock, valued at approximately $290,000.
Other hedge funds have also recently bought and sold shares of the company. NWK Group Inc. purchased a new stake in Palantir Technologies during the fourth quarter valued at about $25,000. Kathmere Capital Management LLC grew its position in Palantir Technologies by 133.3% during the fourth quarter. Kathmere Capital Management LLC now owns 1,050 shares of the company’s stock valued at $25,000 after acquiring an additional 600 shares during the period. Reilly Financial Advisors LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at about $26,000. Benjamin F. Edwards & Company Inc. grew its position in Palantir Technologies by 442.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,085 shares of the company’s stock valued at $26,000 after acquiring an additional 885 shares during the period. Finally, Toth Financial Advisory Corp purchased a new stake in Palantir Technologies during the first quarter valued at about $26,000. 10.13% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE PLTR opened at $20.21 on Wednesday. The stock’s 50 day moving average price is $22.68 and its two-hundred day moving average price is $24.21. Palantir Technologies Inc. has a 52-week low of $8.90 and a 52-week high of $45.00.
PLTR has been the subject of several analyst reports. Royal Bank of Canada upped their target price on Palantir Technologies from $15.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 17th. They noted that the move was a valuation call. Credit Suisse Group initiated coverage on Palantir Technologies in a research report on Tuesday, March 16th. They issued an “underperform” rating and a $20.00 target price for the company. Citigroup downgraded Palantir Technologies from a “neutral” rating to a “sell” rating and upped their target price for the stock from $10.00 to $15.00 in a research report on Wednesday, January 13th. Jefferies Financial Group upped their target price on Palantir Technologies from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, February 12th. Finally, Wolfe Research initiated coverage on Palantir Technologies in a research report on Wednesday, April 28th. They issued a “peer perform” rating and a $23.00 target price for the company. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Palantir Technologies has an average rating of “Hold” and an average price target of $23.89.
In other news, insider Ryan D. Taylor sold 218,255 shares of the stock in a transaction that occurred on Thursday, February 18th. The stock was sold at an average price of $25.17, for a total transaction of $5,493,478.35. Following the sale, the insider now directly owns 1,799,189 shares in the company, valued at approximately $45,285,587.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander D. Moore sold 11,000 shares of the stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $22.49, for a total value of $247,390.00. Following the sale, the director now owns 2,236,249 shares in the company, valued at $50,293,240.01. The disclosure for this sale can be found here. Insiders have sold 5,509,099 shares of company stock worth $125,875,655 in the last 90 days.
About Palantir Technologies
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides Palantir Gotham, a software platform for government operatives in the defense and intelligence sectors, which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.
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