Pinion Investment Advisors LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Pinion Investment Advisors LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, Holdings Channel reports. The firm purchased 3,169 shares of the company’s stock, valued at approximately $240,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings 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 purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of 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 worth $557,365,000 after acquiring an additional 808,444 shares during the period. Charles Schwab Investment Management Inc. raised its stake 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 buying an additional 655,815 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Palantir Technologies by 10.9% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.43, for a total value of $2,772,900.00. Following the completion of the transaction, the insider now owns 702,786 shares in the company, valued at $64,958,509.98. This represents a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now owns 512,006 shares in the company, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,439,783 shares of company stock valued at $107,497,043. Company insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PLTR shares. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. UBS Group upped their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Robert W. Baird increased their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group increased their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $74.79.

Palantir Technologies Stock Performance

PLTR opened at $83.42 on Tuesday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The firm’s fifty day moving average is $87.14 and its two-hundred day moving average is $62.23. The firm has a market cap of $190.03 billion, a PE ratio of 439.08, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

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.