Essex Financial Services Inc. Has $914,000 Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Essex Financial Services Inc. grew its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 17.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,082 shares of the company’s stock after buying an additional 1,810 shares during the quarter. Essex Financial Services Inc.’s holdings in Palantir Technologies were worth $914,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PLTR. BostonPremier Wealth LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at $240,000. Focus Financial Network Inc. grew its holdings in shares of Palantir Technologies by 22.1% during the fourth quarter. Focus Financial Network Inc. now owns 8,793 shares of the company’s stock worth $665,000 after purchasing an additional 1,590 shares during the last quarter. Sapient Capital LLC grew its holdings in shares of Palantir Technologies by 13.0% during the fourth quarter. Sapient Capital LLC now owns 6,263 shares of the company’s stock worth $474,000 after purchasing an additional 720 shares during the last quarter. Equitable Trust Co. acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at $244,000. Finally, Global Wealth Management Investment Advisory Inc. bought a new position in shares of Palantir Technologies in the fourth quarter valued at about $285,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the 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 sale, the director now directly owns 88,129 shares of the company’s stock, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,833,085 shares of company stock worth $924,999,929. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on PLTR shares. Bank of America increased their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. UBS Group raised their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Citigroup increased their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $112.62 on Wednesday. The firm has a market capitalization of $256.55 billion, a price-to-earnings ratio of 592.77, a PEG ratio of 11.44 and a beta of 2.81. The company’s 50 day simple moving average is $78.34 and its 200 day simple moving average is $54.24. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $118.66.

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.