5,359 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Purchased by Sovran Advisors LLC

Sovran Advisors LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,359 shares of the company’s stock, valued at approximately $405,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its stake in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. 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. FMR LLC raised its position in shares of 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 buying an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $66.77, for a total value of $650,740.42. Following the transaction, the director now directly owns 111,644 shares of the company’s stock, valued at approximately $7,454,469.88. This trade represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 1,007,496 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $63.96, for a total value of $64,439,444.16. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $411,407,221.68. The trade was a 13.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,833,085 shares of company stock worth $924,999,929 over the last quarter. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 4.2 %

Shares of NASDAQ PLTR opened at $117.39 on Thursday. The company has a market cap of $267.42 billion, a PE ratio of 617.87, a PEG ratio of 11.44 and a beta of 2.81. The firm’s 50-day moving average price is $79.17 and its 200-day moving average price is $54.84. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $118.66.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup boosted their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Mizuho lifted their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Finally, Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $95.00 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 three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $69.44.

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.