Peachtree Investment Partners LLC purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,870 shares of the company's stock, valued at approximately $1,049,000.
A number of other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Palantir Technologies by 8.6% during 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 during the period. Norges Bank purchased a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $1,360,191,000. FMR LLC lifted its position in shares of Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after buying an additional 2,818,090 shares in the last quarter. Invesco Ltd. grew its stake in 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, Charles Schwab Investment Management Inc. increased its holdings in Palantir Technologies by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company's stock worth $986,431,000 after acquiring an additional 655,815 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have recently issued reports on PLTR. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price on the stock. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Robert W. Baird increased their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Jefferies Financial Group lifted their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research note on Tuesday, February 4th. Finally, Daiwa America raised Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average price target of $75.19.
Read Our Latest Report on Palantir Technologies
Palantir Technologies Trading Down 0.0 %
PLTR traded down $0.04 on Friday, hitting $88.55. The company had a trading volume of 94,976,307 shares, compared to its average volume of 71,346,431. The firm has a market cap of $207.68 billion, a P/E ratio of 466.08, a PEG ratio of 10.84 and a beta of 2.74. 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 1 year low of $20.33 and a 1 year high of $125.41.
Insider Activity
In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $48,988. This trade represents a 99.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the sale, the insider now owns 702,786 shares in the company, valued at $64,958,509.98. This trade represents a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,989,975 shares of company stock valued at $253,328,090. Company insiders own 12.93% of the company's stock.
Palantir Technologies Profile
(
Free Report)
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.
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