Covenant Partners LLC Purchases Shares of 3,226 Palantir Technologies Inc. (NASDAQ:PLTR)

Covenant Partners LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,226 shares of the company's stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Roxbury Financial LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth approximately $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC raised its holdings in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after acquiring an additional 265 shares in the last quarter. HighMark Wealth Management LLC raised its holdings in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter worth about $31,000. Institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PLTR. Robert W. Baird increased their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. UBS Group raised their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Citigroup upped their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Loop Capital reissued a "buy" rating on shares of Palantir Technologies in a research report on Friday, April 4th. Finally, Northland Securities upped their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $74.71.

Insider Activity

In related news, Director Alexandra W. Schiff sold 6,776 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the sale, the director now directly owns 184,617 shares of the company's stock, valued at approximately $15,993,370.71. This trade represents a 3.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following 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. In the last three months, insiders have sold 2,978,181 shares of company stock worth $252,115,667. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Down 0.4 %

Palantir Technologies stock opened at $123.77 on Tuesday. Palantir Technologies Inc. has a 52-week low of $20.50 and a 52-week high of $125.41. The company has a market cap of $290.28 billion, a price-to-earnings ratio of 651.46, a PEG ratio of 10.84 and a beta of 2.68. The firm's fifty day moving average is $91.86 and its 200 day moving average is $80.55.

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.

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