Pinnacle Holdings LLC Acquires 425 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Pinnacle Holdings LLC grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 3.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,625 shares of the company’s stock after acquiring an additional 425 shares during the quarter. Pinnacle Holdings LLC’s holdings in Palantir Technologies were worth $1,106,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 4,127,306 shares during the period. Norges Bank bought a new position in Palantir Technologies in the fourth quarter worth about $1,360,191,000. FMR LLC lifted its holdings in Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after buying an additional 2,818,090 shares during the period. Invesco Ltd. boosted its position in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock worth $986,431,000 after acquiring an additional 655,815 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $77.32 on Wednesday. The company has a market cap of $181.34 billion, a price-to-earnings ratio of 406.97, a PEG ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The firm has a fifty day moving average price of $92.61 and a 200-day moving average price of $71.79.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 13,891 shares of the company’s 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 completion of the transaction, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the completion of the transaction, the director now owns 88,129 shares in the company, valued at $9,059,661.20. The trade was a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,989,975 shares of company stock worth $253,328,090. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PLTR. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Bank of America lifted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Wedbush reissued an “outperform” rating and set a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. Daiwa Capital Markets started 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 for the company. Finally, Mizuho boosted their price target on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $75.19.

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.