Avalon Capital Management Buys 2,500 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Avalon Capital Management boosted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 39.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,850 shares of the company’s stock after purchasing an additional 2,500 shares during the quarter. Avalon Capital Management’s holdings in Palantir Technologies were worth $669,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC boosted its stake in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after acquiring an additional 2,984,348 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Palantir Technologies by 226.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after purchasing an additional 1,969,213 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Bank of America raised their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Mizuho upped their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Wedbush increased their price objective on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, The Goldman Sachs Group upped their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and an average price target of $73.21.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at approximately $50,128,019.74. This represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,719,783 shares of company stock worth $477,414,743 in the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $90.68 on Tuesday. The stock has a market capitalization of $206.57 billion, a PE ratio of 477.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The stock has a 50 day moving average price of $86.17 and a two-hundred day moving average price of $60.27.

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.