7,967 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Bought by Summit X LLC

Summit X LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,967 shares of the company’s stock, valued at approximately $603,000.

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp grew 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 purchasing an additional 40,498,024 shares during the period. Geode Capital Management LLC grew 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 purchasing an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. grew 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 purchasing an additional 808,444 shares during the period. Charles Schwab Investment Management Inc. grew 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 purchasing an additional 655,815 shares during the period. Finally, Bank of New York Mellon Corp grew 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 purchasing an additional 1,262,479 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Palantir Technologies news, Director Alexandra W. Schiff sold 6,776 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the sale, the director now owns 184,617 shares in the company, valued at $15,993,370.71. This represents a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Andrew Cohen sold 416,053 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $43,908.64. The trade was a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 985,838 shares of company stock worth $75,333,389. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

PLTR opened at $78.05 on Wednesday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The firm has a market capitalization of $183.06 billion, a PE ratio of 410.81, a PEG ratio of 10.84 and a beta of 2.81. The business’s 50-day simple moving average is $87.46 and its 200 day simple moving average is $64.35.

Analyst Ratings Changes

A number of brokerages recently commented on PLTR. UBS Group lifted their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Citigroup lifted their target price on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Mizuho lifted their target price on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, Loop Capital initiated coverage on Palantir Technologies in a report on Thursday, February 20th. They set a “buy” rating and a $141.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $75.25.

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.