Mattern Capital Management LLC Purchases Shares of 4,556 Palantir Technologies Inc. (NASDAQ:PLTR)

Mattern Capital Management LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 4,556 shares of the company’s stock, valued at approximately $345,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. ING Groep NV lifted its stake in shares of Palantir Technologies by 648.9% in the fourth quarter. ING Groep NV now owns 643,479 shares of the company’s stock worth $48,666,000 after acquiring an additional 557,554 shares during the period. Bear Mountain Capital Inc. lifted its holdings in Palantir Technologies by 760.7% during the 4th quarter. Bear Mountain Capital Inc. now owns 964 shares of the company’s stock worth $76,000 after purchasing an additional 852 shares in the last quarter. Aspect Partners LLC raised its holdings in shares of Palantir Technologies by 262.3% in the 4th quarter. Aspect Partners LLC now owns 1,087 shares of the company’s stock valued at $82,000 after acquiring an additional 787 shares in the last quarter. Zullo Investment Group Inc. increased its position in shares of Palantir Technologies by 9.4% during the 4th quarter. Zullo Investment Group Inc. now owns 8,684 shares of the company’s stock valued at $657,000 after purchasing an additional 746 shares during the last quarter. Finally, Sunpointe LLC bought a new position in Palantir Technologies during the 4th quarter worth approximately $246,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $106.27 on Friday. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The firm has a market cap of $242.09 billion, a price-to-earnings ratio of 559.35, a PEG ratio of 11.52 and a beta of 2.81. The stock’s 50-day moving average is $85.36 and its two-hundred day moving average is $58.84.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s 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 of the company’s stock, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $66.77, for a total transaction of $650,740.42. Following the transaction, the director now directly owns 111,644 shares of the company’s stock, valued at approximately $7,454,469.88. This trade represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,680,992 shares of company stock worth $473,395,877. Company insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Northland Securities upped their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. DA Davidson increased their target price on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Robert W. Baird increased their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Bank of America raised their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $73.21.

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.