Sunpointe LLC Makes New $246,000 Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Sunpointe LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,248 shares of the company's stock, valued at approximately $246,000.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company's stock valued at $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC boosted its stake in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company's stock worth $557,365,000 after purchasing an additional 808,444 shares during the last quarter. FMR LLC increased its position in shares of Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company's stock worth $464,192,000 after purchasing an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PLTR shares. Morgan Stanley upgraded Palantir Technologies from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Bank of America upped their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Loop Capital started coverage on shares of Palantir Technologies in a research note on Thursday. They issued a "buy" rating and a $141.00 price objective on the stock. Finally, Argus cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $73.21.

Palantir Technologies Stock Down 4.9 %

Shares of Palantir Technologies stock traded down $5.20 on Friday, hitting $101.07. The company's stock had a trading volume of 114,210,605 shares, compared to its average volume of 90,424,781. The company has a market capitalization of $230.24 billion, a P/E ratio of 530.31, a price-to-earnings-growth ratio of 11.52 and a beta of 2.81. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The firm has a fifty day moving average price of $85.36 and a 200-day moving average price of $58.84.

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $50,128,019.74. The trade was a 3.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the sale, the insider now owns 512,006 shares in the company, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,680,992 shares of company stock worth $473,395,877. Insiders own 12.93% of the company's stock.

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.