Sheets Smith Investment Management Makes New $2.25 Million Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Sheets Smith Investment Management purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,789 shares of the company’s stock, valued at approximately $2,253,000. Palantir Technologies makes up about 1.9% of Sheets Smith Investment Management’s portfolio, making the stock its 14th biggest holding.

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

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $51,545.44. This trade represents a 99.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % 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 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 4.1 %

Shares of Palantir Technologies stock opened at $90.96 on Monday. The company has a market capitalization of $213.33 billion, a price-to-earnings ratio of 478.76, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The firm’s 50-day moving average price is $89.55 and its two-hundred day moving average price is $67.44.

Analyst Ratings Changes

PLTR has been the topic of several research analyst reports. Wedbush reissued an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a research report on Monday, March 3rd. UBS Group increased their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Citigroup increased their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, Loop Capital dropped their price objective on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.45.

Palantir Technologies 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.