Palantir Technologies Inc. (NASDAQ:PLTR) Shares Bought by Sowell Financial Services LLC

Sowell Financial Services LLC raised its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 142.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 55,910 shares of the company’s stock after acquiring an additional 32,831 shares during the quarter. Sowell Financial Services LLC’s holdings in Palantir Technologies were worth $4,228,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after buying an additional 808,444 shares during the period. Charles Schwab Investment Management Inc. lifted its stake 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 worth $986,431,000 after buying an additional 655,815 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of 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 buying an additional 1,262,479 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $85.07 on Friday. The firm has a market capitalization of $199.51 billion, a price-to-earnings ratio of 447.74, a PEG ratio of 10.84 and a beta of 2.81. The company’s 50-day moving average is $87.43 and its two-hundred day moving average is $63.49. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41.

Insider Buying and Selling at Palantir Technologies

In related news, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,435,838 shares of company stock worth $107,260,889 in the last ninety days. 12.93% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Morgan Stanley upgraded 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 note on Tuesday, February 4th. DA Davidson lifted their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Citigroup boosted their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Mizuho boosted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Finally, Wedbush restated an “outperform” rating and set a $120.00 target price on shares of Palantir Technologies in a research report on Monday, March 3rd. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $74.79.

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.