Syon Capital LLC Makes New $407,000 Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Syon Capital LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,381 shares of the company’s stock, valued at approximately $407,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $1,360,191,000. Geode Capital Management LLC raised its position in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP lifted its stake in Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Invesco Ltd. boosted its holdings in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors bought a new stake in shares of Palantir Technologies in the 4th quarter worth $253,816,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Up 6.9 %

PLTR stock opened at $107.78 on Friday. Palantir Technologies Inc. has a twelve month low of $20.50 and a twelve month high of $125.41. The firm has a market capitalization of $252.78 billion, a PE ratio of 567.29, a PEG ratio of 10.84 and a beta of 2.74. The stock has a 50-day simple moving average of $89.58 and a two-hundred day simple moving average of $76.39.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the transaction, the director now owns 88,129 shares in the company, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,989,975 shares of company stock valued at $253,328,090. Corporate insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on PLTR shares. Robert W. Baird boosted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Cantor Fitzgerald upped their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Bank of America lifted their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Jefferies Financial Group upped their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Finally, William Blair set a $84.00 target price on Palantir Technologies in a research note on Wednesday, March 5th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.71.

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.