EFG Asset Management North America Corp. Buys 64,409 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

EFG Asset Management North America Corp. grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 59.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 172,682 shares of the company’s stock after purchasing an additional 64,409 shares during the period. Palantir Technologies comprises about 1.8% of EFG Asset Management North America Corp.’s holdings, making the stock its 6th biggest holding. EFG Asset Management North America Corp.’s holdings in Palantir Technologies were worth $13,063,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Modern Wealth Management LLC purchased a new position in Palantir Technologies during the 4th quarter worth approximately $576,000. EntryPoint Capital LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter worth $425,000. Prudential Financial Inc. grew its holdings in shares of Palantir Technologies by 43.9% during the fourth quarter. Prudential Financial Inc. now owns 1,707,831 shares of the company’s stock valued at $129,163,000 after buying an additional 521,420 shares in the last quarter. Lynx Investment Advisory acquired a new position in Palantir Technologies during the fourth quarter valued at $304,000. Finally, Sheets Smith Investment Management purchased a new stake in Palantir Technologies in the 4th quarter worth about $2,253,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the firm’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 sale, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the sale, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is owned by insiders.

Palantir Technologies Price Performance

Shares of PLTR opened at $96.75 on Tuesday. The company has a market capitalization of $226.91 billion, a PE ratio of 509.24, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The company’s fifty day moving average price is $90.19 and its 200 day moving average price is $67.91.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Loop Capital dropped their target price on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Mizuho upped their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Northland Securities boosted their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Finally, Citigroup increased their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.45.

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.