MIG Capital LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

MIG Capital LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 4,513 shares of the company’s stock, valued at approximately $341,000.

Several other institutional investors also recently bought and sold shares of PLTR. Prestige Wealth Management Group LLC lifted its position in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth approximately $27,000. First PREMIER Bank purchased a new position in shares of Palantir Technologies in the fourth quarter worth $28,000. Wolff Wiese Magana LLC raised its holdings in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC boosted its position in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 11.5 %

Palantir Technologies stock opened at $74.01 on Friday. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The business’s fifty day simple moving average is $92.67 and its two-hundred day simple moving average is $70.93. The company has a market capitalization of $173.58 billion, a price-to-earnings ratio of 389.55, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Royal Bank of Canada boosted their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Wedbush reiterated an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a report on Monday, March 3rd. Bank of America boosted their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, Mizuho raised their price target on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.19.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. This represents a 19.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,993,175 shares of company stock worth $253,549,610 in the last quarter. Corporate insiders own 12.93% of the company’s stock.

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.