13,250 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Bought by Shell Asset Management Co.

Shell Asset Management Co. purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,250 shares of the company’s stock, valued at approximately $1,002,000.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in Palantir Technologies during the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC lifted its position in shares of Palantir Technologies by 8.6% during 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 in the last quarter. Wellington Management Group LLP boosted its stake in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock worth $354,117,000 after buying an additional 3,907,022 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after buying an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors bought a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $253,816,000. 45.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Northland Securities lifted their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. Jefferies Financial Group raised their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, May 6th. William Blair set a $84.00 price target on shares of Palantir Technologies in a research report on Wednesday, March 5th. Finally, Robert W. Baird raised their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $83.95.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $129.52 on Friday. The business’s fifty day moving average is $98.72 and its 200 day moving average is $85.13. The firm has a market cap of $303.77 billion, a price-to-earnings ratio of 681.72, a PEG ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 52-week low of $20.63 and a 52-week high of $133.49.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. During the same period in the prior year, the business posted $0.08 earnings per share. The company’s revenue was up 39.4% on a year-over-year basis. Equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In related news, insider Heather A. Planishek bought 10,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average cost of $116.14 per share, with a total value of $1,161,400.00. Following the completion of the purchase, the insider now directly owns 58,006 shares of the company’s stock, valued at $6,736,816.84. This trade represents a 20.83% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,964,290 shares of company stock worth $250,504,866 in the last three months. Corporate insiders own 12.93% of the company’s stock.

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.