Fortis Capital Management LLC Purchases 3,551 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Fortis Capital Management LLC raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 38.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,773 shares of the company’s stock after acquiring an additional 3,551 shares during the period. Fortis Capital Management LLC’s holdings in Palantir Technologies were worth $966,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of Palantir Technologies by 96.4% during the third 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 during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 52.9% during 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 purchasing an additional 16,598,253 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares during the last quarter. Amundi lifted its holdings in shares of Palantir Technologies by 62.7% during the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock valued at $514,656,000 after purchasing an additional 2,623,524 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Palantir Technologies by 226.2% during the third 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 during the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $48,988. The trade was a 99.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,379,785 shares of company stock valued at $281,528,938 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $90.96 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 fifty day moving average price of $89.55 and a 200-day moving average price of $67.18. The company has a market cap of $213.33 billion, a price-to-earnings ratio of 478.76, a PEG ratio of 10.84 and a beta of 2.81.

Analyst Ratings Changes

Several research firms have recently issued reports on PLTR. Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. DA Davidson lifted their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Finally, UBS Group boosted their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average target price 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.