Longbow Finance SA Purchases New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Longbow Finance SA purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 86,962 shares of the company’s stock, valued at approximately $6,577,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp lifted its stake in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 buying an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake 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 worth $557,365,000 after purchasing an additional 808,444 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in 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 purchasing an additional 1,262,479 shares in the last quarter. Finally, FMR LLC lifted its stake in Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after purchasing an additional 1,004,603 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,719,783 shares of company stock valued at $477,414,743. Insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLTR. Mizuho raised their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Jefferies Financial Group raised their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. UBS Group raised their target price 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, Cantor Fitzgerald raised their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $73.21.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $90.68 on Tuesday. The company has a market capitalization of $206.57 billion, a PE ratio of 477.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The firm has a 50 day moving average price of $86.17 and a 200 day moving average price of $60.27. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41.

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.