Sheets Smith Investment Management Invests $2.25 Million in Palantir Technologies Inc. (NASDAQ:PLTR)

Sheets Smith Investment Management bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 29,789 shares of the company's stock, valued at approximately $2,253,000. Palantir Technologies comprises approximately 1.9% of Sheets Smith Investment Management's portfolio, making the stock its 14th largest holding.

Several other institutional investors and hedge funds have also modified their holdings of PLTR. Prestige Wealth Management Group LLC grew its holdings in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company's stock worth $27,000 after acquiring an additional 650 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth about $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its stake in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC increased its holdings in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now directly owns 62,139 shares of the company's stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,379,785 shares of company stock worth $281,528,938. Company insiders own 12.93% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have issued reports on PLTR. Cantor Fitzgerald upped 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. Loop Capital decreased their price target on Palantir Technologies from $141.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. UBS Group boosted their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Royal Bank of Canada raised their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird boosted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $74.45.

Palantir Technologies Trading Down 2.4 %

Shares of NASDAQ PLTR traded down $2.19 during mid-day trading on Thursday, reaching $90.09. 82,518,616 shares of the company's stock were exchanged, compared to its average volume of 66,776,462. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The firm has a market capitalization of $211.29 billion, a price-to-earnings ratio of 474.18, a PEG ratio of 10.84 and a beta of 2.81. The business has a fifty day simple moving average of $91.70 and a 200 day simple moving average of $68.69.

Palantir Technologies Company 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.