Sheets Smith Investment Management Acquires Shares of 29,789 Palantir Technologies Inc. (NASDAQ:PLTR)

Sheets Smith Investment Management acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 29,789 shares of the company’s stock, valued at approximately $2,253,000. Palantir Technologies makes up approximately 1.9% of Sheets Smith Investment Management’s portfolio, making the stock its 14th biggest holding.

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

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 310,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at $51,545.44. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,379,785 shares of company stock worth $281,528,938 over the last quarter. 12.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PLTR shares. UBS Group lifted 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. DA Davidson lifted their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Robert W. Baird lifted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group lifted their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada lifted their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.45.

Palantir Technologies Stock Up 4.1 %

Palantir Technologies stock opened at $90.96 on Monday. The stock has a market capitalization of $213.33 billion, a PE ratio of 478.76, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The company has a 50 day moving average of $89.55 and a 200-day moving average of $67.44.

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.