Westbourne Investments Inc. Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Westbourne Investments Inc. bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 54,259 shares of the company's stock, valued at approximately $4,104,000. Palantir Technologies accounts for approximately 2.4% of Westbourne Investments Inc.'s portfolio, making the stock its 9th biggest holding.

Several other large investors also recently modified their holdings of the stock. World Investment Advisors LLC bought a new position in Palantir Technologies in the third quarter valued at approximately $347,000. Wilmington Savings Fund Society FSB increased its stake in shares of Palantir Technologies by 48.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 17,538 shares of the company's stock valued at $652,000 after purchasing an additional 5,747 shares during the last quarter. Synovus Financial Corp increased its stake in shares of Palantir Technologies by 85.9% in the 3rd quarter. Synovus Financial Corp now owns 17,898 shares of the company's stock valued at $666,000 after purchasing an additional 8,270 shares during the last quarter. Tri Ri Asset Management Corp acquired a new position in shares of Palantir Technologies during the 3rd quarter worth $23,403,000. Finally, Franklin Resources Inc. lifted its position in shares of Palantir Technologies by 102.3% during the 3rd quarter. Franklin Resources Inc. now owns 171,653 shares of the company's stock worth $6,385,000 after buying an additional 86,793 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLTR has been the topic of a number of recent analyst reports. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. UBS Group upped their price target 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. Finally, Mizuho raised their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus price target of $74.71.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded up $8.08 during midday trading on Friday, reaching $124.28. The stock had a trading volume of 102,421,600 shares, compared to its average volume of 75,372,579. Palantir Technologies Inc. has a twelve month low of $20.50 and a twelve month high of $125.41. The company's 50 day moving average price is $91.17 and its 200 day moving average price is $79.46. The firm has a market cap of $291.48 billion, a price-to-earnings ratio of 654.14, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the transaction, the director now owns 88,129 shares in the company, valued at $9,059,661.20. The trade was a 11.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares of the company's stock, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock worth $253,328,090 over the last quarter. Company insiders own 12.93% of the company's stock.

Palantir Technologies Company 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.