Commerce Bank Has $71.44 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Commerce Bank increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 944,548 shares of the company's stock after buying an additional 17,822 shares during the quarter. Commerce Bank's holdings in Palantir Technologies were worth $71,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Geode Capital Management LLC increased its position in shares of Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after acquiring an additional 3,907,022 shares during the period. Invesco Ltd. raised its stake in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Palantir Technologies during the 4th quarter worth $240,236,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 1.2 %

Shares of PLTR stock traded up $1.07 during trading hours on Friday, reaching $93.78. 83,698,348 shares of the stock traded hands, compared to its average volume of 72,859,837. The business has a fifty day moving average price of $91.18 and a 200 day moving average price of $75.01. Palantir Technologies Inc. has a 1-year low of $20.36 and a 1-year high of $125.41. The firm has a market capitalization of $219.95 billion, a PE ratio of 493.60, a PEG ratio of 10.84 and a beta of 2.74.

Insider Activity at Palantir Technologies

In related 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 transaction of $65,000.00. Following the sale, the director now directly owns 61,339 shares of the company's stock, valued at $4,983,793.75. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the sale, the insider now owns 592 shares in the company, valued at approximately $48,988. This represents a 99.95 % 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 valued at $253,328,090. Insiders own 12.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PLTR shares. Wedbush restated an "outperform" rating and set a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. Daiwa Capital Markets began coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target for the company. Mizuho lifted their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Loop Capital restated a "buy" rating on shares of Palantir Technologies in a research note on Friday, April 4th. Finally, DA Davidson cut their price objective on shares of Palantir Technologies from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $74.71.

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.