2,988 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Bought by Fayez Sarofim & Co

Fayez Sarofim & Co purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,988 shares of the company's stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PLTR. M&T Bank Corp boosted its stake in Palantir Technologies by 37.0% during the third quarter. M&T Bank Corp now owns 170,043 shares of the company's stock valued at $6,326,000 after buying an additional 45,965 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $347,000. Wilmington Savings Fund Society FSB grew its holdings in shares of Palantir Technologies by 48.7% in the third 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 in the last quarter. Synovus Financial Corp increased its position in Palantir Technologies by 85.9% in the third quarter. Synovus Financial Corp now owns 17,898 shares of the company's stock worth $666,000 after purchasing an additional 8,270 shares during the last quarter. Finally, Tri Ri Asset Management Corp bought a new stake in Palantir Technologies in the third quarter worth $23,403,000. 45.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares of the company's stock, valued at approximately $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 SEC, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,989,975 shares of company stock valued at $253,328,090. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Trading Up 4.6 %

Shares of NASDAQ:PLTR traded up $5.00 during trading on Friday, reaching $112.78. The stock had a trading volume of 103,385,040 shares, compared to its average volume of 73,840,737. The firm's 50-day simple moving average is $89.58 and its 200 day simple moving average is $76.39. Palantir Technologies Inc. has a one year low of $20.50 and a one year high of $125.41. The company has a market capitalization of $264.51 billion, a P/E ratio of 593.61, a PEG ratio of 10.84 and a beta of 2.74.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of recent research reports. Jefferies Financial Group lifted their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research note on Tuesday, February 4th. Robert W. Baird boosted their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Northland Securities raised their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research note on Tuesday, February 4th. DA Davidson cut their target price on Palantir Technologies from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Cantor Fitzgerald raised their price target on Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and an average 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.