Ring Mountain Capital LLC Purchases Shares of 3,032 Palantir Technologies Inc. (NASDAQ:PLTR)

Ring Mountain Capital LLC purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,032 shares of the company’s stock, valued at approximately $229,000.

Several other large investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in 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 purchasing an additional 40,498,024 shares during the period. Geode Capital Management LLC boosted its holdings in 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 period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after purchasing an additional 808,444 shares during the period. Charles Schwab Investment Management Inc. boosted 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 valued at $986,431,000 after purchasing an additional 655,815 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Palantir Technologies by 10.9% during 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 buying an additional 1,262,479 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PLTR has been the topic of several research reports. Loop Capital initiated coverage on shares of Palantir Technologies in a research report on Thursday, February 20th. They set a “buy” rating and a $141.00 price objective on the stock. Royal Bank of Canada raised their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group raised 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. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.79.

Palantir Technologies Trading Down 1.8 %

PLTR stock opened at $83.42 on Tuesday. The firm’s 50-day moving average price is $87.14 and its two-hundred day moving average price is $62.23. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The stock has a market capitalization of $190.03 billion, a price-to-earnings ratio of 439.08, a PEG ratio of 10.84 and a beta of 2.81.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the sale, the insider now directly owns 702,786 shares in the company, valued at $64,958,509.98. The trade was a 4.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,439,783 shares of company stock worth $107,497,043. 12.93% of the stock is currently owned by company insiders.

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.