Capital World Investors Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Capital World Investors purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,356,021 shares of the company’s stock, valued at approximately $253,816,000. Capital World Investors owned 0.15% of Palantir Technologies as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the business. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies during the 4th quarter worth $27,000. First PREMIER Bank purchased a new position in Palantir Technologies during the fourth quarter worth about $28,000. Wolff Wiese Magana LLC increased its position in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. HighMark Wealth Management LLC raised its stake in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the period. Finally, Sierra Ocean LLC acquired a new position in shares of Palantir Technologies in the 4th quarter worth approximately $31,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the transaction, the director now directly owns 88,129 shares in the company, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the sale, the director now owns 184,617 shares of the company’s stock, valued at approximately $15,993,370.71. This trade represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,989,975 shares of company stock valued at $253,328,090. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $93.78 on Monday. Palantir Technologies Inc. has a 12 month low of $20.36 and a 12 month high of $125.41. The company has a market capitalization of $219.95 billion, a price-to-earnings ratio of 493.60, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. The firm’s fifty day moving average price is $91.18 and its 200 day moving average price is $75.26.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research reports. Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Loop Capital reissued a “buy” rating on shares of Palantir Technologies in a research note on Friday, April 4th. Cantor Fitzgerald lifted their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. UBS Group boosted their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley dropped their price objective on shares of Palantir Technologies from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $74.71.

Palantir Technologies 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.