CIBC Asset Management Inc Purchases 385,992 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

CIBC Asset Management Inc raised its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 130.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 682,168 shares of the company’s stock after acquiring an additional 385,992 shares during the quarter. CIBC Asset Management Inc’s holdings in Palantir Technologies were worth $51,592,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies in the 3rd quarter worth $25,000. Prestige Wealth Management Group LLC raised its stake in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the period. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at about $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $28,000. Finally, Wolff Wiese Magana LLC increased its holdings in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $119.16 on Monday. The company has a market cap of $271.45 billion, a P/E ratio of 627.19, a P/E/G ratio of 11.44 and a beta of 2.81. The business’s 50 day moving average price is $81.90 and its 200-day moving average price is $56.77. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $120.67.

Analyst Ratings Changes

Several equities analysts have weighed in on PLTR shares. Robert W. Baird lifted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Citigroup raised their price target on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Mizuho upped their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada lifted their target price on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $69.44.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies 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 sale, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander C. Karp sold 38,093 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $405,296,576.58. This represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,339,480 shares of company stock valued at $578,221,285. 12.93% of the stock is currently owned by company insiders.

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.