Pinnbrook Capital Management LP Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Pinnbrook Capital Management LP purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 40,848 shares of the company’s stock, valued at approximately $3,089,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLTR. Tritonpoint Wealth LLC grew its holdings in Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after acquiring an additional 132 shares during the period. Kennebec Savings Bank grew its holdings in Palantir Technologies by 29.5% during the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after acquiring an additional 159 shares during the period. RMR Wealth Builders boosted its position in shares of Palantir Technologies by 2.4% during the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after purchasing an additional 167 shares in the last quarter. Bay Rivers Group boosted its position in shares of Palantir Technologies by 2.7% during the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after purchasing an additional 171 shares in the last quarter. Finally, Christensen King & Associates Investment Services Inc. boosted its position in shares of Palantir Technologies by 3.0% during the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after purchasing an additional 174 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now owns 592 shares of the company’s stock, valued at $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander C. Karp sold 1,620,395 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $406,583,028.18. This trade represents a 20.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,339,480 shares of company stock valued at $578,221,285 over the last quarter. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 1.1 %

PLTR opened at $119.16 on Tuesday. The company’s 50-day moving average price is $82.84 and its two-hundred day moving average price is $57.43. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $120.67. The stock has a market cap of $271.45 billion, a price-to-earnings ratio of 627.19, a PEG ratio of 11.44 and a beta of 2.81.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Wedbush lifted their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. UBS Group boosted their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. DA Davidson boosted their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.44.

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.