Stevens Capital Management LP Buys New Shares in Palantir Technologies Inc. (NASDAQ:PLTR)

Stevens Capital Management LP purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, Holdings Channel.com reports. The fund purchased 3,435 shares of the company’s stock, valued at approximately $260,000.

Several other institutional investors have also added to or reduced their stakes in the business. Westover Capital Advisors LLC lifted its stake in shares of Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after acquiring an additional 130 shares during the last quarter. Tritonpoint Wealth LLC increased its stake in Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after purchasing an additional 132 shares during the period. Twin Peaks Wealth Advisors LLC lifted its position in Palantir Technologies by 2.2% in the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock valued at $493,000 after purchasing an additional 139 shares during the last quarter. Truvestments Capital LLC boosted its stake in shares of Palantir Technologies by 1.2% during the fourth quarter. Truvestments Capital LLC now owns 12,311 shares of the company’s stock valued at $931,000 after purchasing an additional 142 shares during the period. Finally, RKL Wealth Management LLC grew its holdings in shares of Palantir Technologies by 2.7% in the fourth quarter. RKL Wealth Management LLC now owns 5,689 shares of the company’s stock worth $430,000 after purchasing an additional 150 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now owns 62,139 shares in the company, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $48,988. This represents a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,379,785 shares of company stock worth $281,528,938 in the last 90 days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $96.75 on Tuesday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The firm’s 50-day simple moving average is $90.19 and its two-hundred day simple moving average is $67.91. The stock has a market cap of $226.91 billion, a PE ratio of 509.24, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PLTR. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Robert W. Baird upped their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Mizuho raised their target price on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Loop Capital lowered their price target on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, Citigroup increased 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. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.45.

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.