Stevens Capital Management LP Purchases New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Stevens Capital Management LP acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,435 shares of the company’s stock, valued at approximately $260,000.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its position in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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. Charles Schwab Investment Management Inc. increased its position in shares of Palantir Technologies by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock valued at $986,431,000 after acquiring an additional 655,815 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Palantir Technologies by 10.9% during the fourth quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock worth $971,367,000 after acquiring an additional 1,262,479 shares during the period. Finally, FMR LLC boosted its position in Palantir Technologies by 8.8% in 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 during the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PLTR shares. Bank of America lifted their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. DA Davidson increased their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. UBS Group lifted their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Wedbush reissued an “outperform” rating and set a $120.00 price objective on shares of Palantir Technologies in a report on Monday, March 3rd. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $74.45.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction 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 owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $48,988. This trade represents a 99.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,379,785 shares of company stock valued at $281,528,938 in the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $96.75 on Tuesday. The company has a market capitalization of $226.91 billion, a PE ratio of 509.24, a price-to-earnings-growth ratio of 10.84 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 business’s fifty day moving average is $90.19 and its 200 day moving average is $67.91.

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.