Palantir Technologies Inc. (NASDAQ:PLTR) Shares Bought by Synovus Financial Corp

Synovus Financial Corp grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 16.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,830 shares of the company’s stock after buying an additional 2,932 shares during the quarter. Synovus Financial Corp’s holdings in Palantir Technologies were worth $1,575,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Summit Investment Advisors Inc. grew its stake in shares of Palantir Technologies by 338.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 89,352 shares of the company’s stock worth $6,758,000 after purchasing an additional 68,955 shares during the period. Virtus Wealth Solutions LLC purchased a new stake in Palantir Technologies during the fourth quarter worth about $19,243,000. Sagespring Wealth Partners LLC acquired a new position in Palantir Technologies during the fourth quarter worth about $1,335,000. Townsquare Capital LLC increased its holdings in Palantir Technologies by 29.3% in the fourth quarter. Townsquare Capital LLC now owns 49,157 shares of the company’s stock valued at $3,718,000 after buying an additional 11,151 shares in the last quarter. Finally, Legacy Investment Solutions LLC lifted its position in shares of Palantir Technologies by 48.2% during the 4th quarter. Legacy Investment Solutions LLC now owns 741 shares of the company’s stock valued at $56,000 after acquiring an additional 241 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $98.40 on Wednesday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The firm’s 50-day simple moving average is $92.38 and its 200-day simple moving average is $73.83. The firm has a market cap of $230.78 billion, a P/E ratio of 517.92, a PEG ratio of 10.84 and a beta of 2.74.

Analyst Upgrades and Downgrades

A number of research firms have commented on PLTR. Royal Bank of Canada boosted their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald boosted their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. Citigroup upped their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Finally, Robert W. Baird raised their price objective 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. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $74.95.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now directly owns 61,339 shares of the company’s stock, valued at $4,983,793.75. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Heather A. Planishek sold 18,537 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $102.32, for a total transaction of $1,896,705.84. Following the sale, the insider now directly owns 493,469 shares of the company’s stock, valued at approximately $50,491,748.08. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock valued at $253,328,090 over the last quarter. Company insiders own 12.93% of the company’s stock.

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.