Capital Research Global Investors Invests $118.68 Million in Palantir Technologies Inc. (NASDAQ:PLTR)

Capital Research Global Investors purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,569,199 shares of the company's stock, valued at approximately $118,679,000. Capital Research Global Investors owned approximately 0.07% of Palantir Technologies at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PLTR. Heritage Wealth Management Inc. CA grew its position in shares of Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after purchasing an additional 111 shares in the last quarter. Westover Capital Advisors LLC boosted its holdings in shares of Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock worth $554,000 after purchasing an additional 130 shares in the last quarter. Tritonpoint Wealth LLC boosted its holdings in shares of Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company's stock worth $537,000 after purchasing an additional 132 shares in the last quarter. Twin Peaks Wealth Advisors LLC boosted its holdings in Palantir Technologies by 2.2% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company's stock valued at $493,000 after acquiring an additional 139 shares during the period. Finally, Truvestments Capital LLC raised its position in Palantir Technologies by 1.2% during the 4th quarter. Truvestments Capital LLC now owns 12,311 shares of the company's stock valued at $931,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded up $5.41 during trading on Thursday, hitting $106.23. 59,563,429 shares of the company's stock were exchanged, compared to its average volume of 73,404,279. Palantir Technologies Inc. has a 52-week low of $20.50 and a 52-week high of $125.41. The business's 50-day simple moving average is $89.81 and its 200 day simple moving average is $75.91. The company has a market cap of $249.14 billion, a price-to-earnings ratio of 558.42, a PEG ratio of 10.84 and a beta of 2.74.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the sale, the director now owns 184,617 shares in the company, valued at approximately $15,993,370.71. This trade represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,989,975 shares of company stock worth $253,328,090. 12.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research analyst reports. Robert W. Baird upped their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a report on Wednesday, March 5th. Mizuho raised their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Morgan Stanley lowered their target price on Palantir Technologies from $95.00 to $90.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Royal Bank of Canada increased their target price on Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Five research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $74.71.

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.