Clarkston Capital Partners LLC Invests $364,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Clarkston Capital Partners LLC purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,810 shares of the company’s stock, valued at approximately $364,000.

A number of other large investors also recently bought and sold shares of PLTR. Geode Capital Management LLC raised its position in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the period. Norges Bank purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $1,360,191,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Palantir Technologies by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock valued at $986,431,000 after purchasing an additional 655,815 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Palantir Technologies by 10.9% during 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 during the period. Finally, Amundi increased its position in Palantir Technologies by 62.7% during the 4th quarter. Amundi now owns 6,804,915 shares of the company’s stock worth $514,656,000 after purchasing an additional 2,623,524 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In related news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares in the company, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,993,175 shares of company stock valued at $253,549,610. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR opened at $74.01 on Friday. The stock has a market capitalization of $173.58 billion, a PE ratio of 389.55, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. The business’s fifty day moving average price is $92.67 and its 200 day moving average price is $70.93. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Loop Capital restated a “buy” rating on shares of Palantir Technologies in a report on Friday. Wedbush reiterated an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a report on Monday, March 3rd. UBS Group boosted 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. Finally, DA Davidson increased their target price on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.19.

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.