Smith Moore & CO. Invests $423,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Smith Moore & CO. purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,594 shares of the company’s stock, valued at approximately $423,000.

A number of other large investors also recently added to or reduced their stakes in PLTR. Geode Capital Management LLC boosted its holdings in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Norges Bank acquired a new position in Palantir Technologies in the 4th quarter valued at $1,360,191,000. Charles Schwab Investment Management Inc. lifted 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in 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 worth $971,367,000 after purchasing an additional 1,262,479 shares during the last quarter. Finally, Amundi grew its holdings in shares of Palantir Technologies by 62.7% during the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock worth $514,656,000 after buying an additional 2,623,524 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Trading Down 11.5 %

Shares of PLTR opened at $74.01 on Friday. The firm has a market capitalization of $173.58 billion, a price-to-earnings ratio of 389.55, a PEG ratio of 10.84 and a beta of 2.74. The firm’s fifty day simple moving average is $92.67 and its 200-day simple moving average is $70.93. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PLTR shares. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Mizuho upped their price target on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. UBS Group boosted their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Cantor Fitzgerald raised their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 target price on the stock. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.19.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,993,175 shares of company stock valued at $253,549,610 over the last quarter. 12.93% of the stock is owned by 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.