10,256 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Acquired by Summit Global Investments

Summit Global Investments bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,256 shares of the company’s stock, valued at approximately $776,000.

Several other large investors have also recently added to or reduced their stakes in the business. State Street Corp increased its stake in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC increased its position in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 valued at $986,431,000 after purchasing an additional 655,815 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Palantir Technologies by 10.9% in the 4th quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock valued at $971,367,000 after purchasing an additional 1,262,479 shares during the last quarter. Finally, FMR LLC increased its position in shares of Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after purchasing an additional 1,004,603 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

PLTR stock opened at $90.96 on Monday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The stock has a market capitalization of $213.33 billion, a PE ratio of 478.76, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The company has a fifty day moving average of $89.55 and a 200-day moving average of $67.44.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PLTR. Northland Securities increased their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Jefferies Financial Group increased their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Citigroup upped their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Finally, Robert W. Baird upped their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.45.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares in the company, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 310,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $51,545.44. This represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,379,785 shares of company stock worth $281,528,938. Company insiders own 12.93% of the company’s stock.

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.