Palantir Technologies Inc. (NASDAQ:PLTR) Shares Purchased by Shelton Capital Management

Shelton Capital Management raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 285.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 318,752 shares of the company's stock after buying an additional 236,128 shares during the period. Palantir Technologies comprises approximately 0.6% of Shelton Capital Management's holdings, making the stock its 27th largest position. Shelton Capital Management's holdings in Palantir Technologies were worth $24,107,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. bought a new position in shares of Palantir Technologies in the third quarter worth about $280,000. Quantinno Capital Management LP raised its stake in Palantir Technologies by 335.0% during the 3rd quarter. Quantinno Capital Management LP now owns 115,698 shares of the company's stock worth $4,304,000 after acquiring an additional 89,098 shares during the period. Wellington Management Group LLP lifted its holdings in Palantir Technologies by 3,106.8% during the third quarter. Wellington Management Group LLP now owns 775,208 shares of the company's stock valued at $28,838,000 after purchasing an additional 751,034 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Palantir Technologies by 26.0% in the third quarter. Kovitz Investment Group Partners LLC now owns 99,012 shares of the company's stock worth $3,683,000 after purchasing an additional 20,425 shares during the period. Finally, EP Wealth Advisors LLC increased its stake in shares of Palantir Technologies by 17.2% in the third quarter. EP Wealth Advisors LLC now owns 20,073 shares of the company's stock worth $747,000 after purchasing an additional 2,941 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Performance

PLTR traded down $0.04 during trading on Friday, reaching $88.55. The company's stock had a trading volume of 94,976,307 shares, compared to its average volume of 71,346,431. The company's fifty day moving average price is $92.81 and its 200-day moving average price is $73.02. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The company has a market capitalization of $207.68 billion, a price-to-earnings ratio of 466.08, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Analyst Ratings Changes

Several analysts recently issued reports on PLTR shares. Morgan Stanley raised Palantir Technologies from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. William Blair set a $84.00 price objective on Palantir Technologies in a research report on Wednesday, March 5th. Northland Securities boosted their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 4th. Jefferies Financial Group raised their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Finally, Wedbush reaffirmed an "outperform" rating and set a $120.00 price objective on shares of Palantir Technologies in a report on Monday, March 3rd. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $75.19.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 6,776 shares of the 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 directly owns 184,617 shares in the company, valued at $15,993,370.71. This represents a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the sale, the director now owns 88,129 shares in the company, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,989,975 shares of company stock valued at $253,328,090 in the last quarter. 12.93% of the stock is currently owned by corporate 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.