Shell Asset Management Co. Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Shell Asset Management Co. bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,250 shares of the company's stock, valued at approximately $1,002,000.

Several other hedge funds have also recently made changes to their positions in PLTR. Norges Bank acquired a new position in shares of Palantir Technologies during the fourth quarter valued at about $1,360,191,000. Geode Capital Management LLC raised its stake in 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 during the period. Wellington Management Group LLP boosted its holdings in Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Invesco Ltd. grew its stake in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. Finally, Capital World Investors bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $253,816,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Performance

PLTR traded up $4.55 during midday trading on Thursday, reaching $125.13. The company had a trading volume of 45,235,520 shares, compared to its average volume of 77,211,963. The stock has a market cap of $293.48 billion, a PE ratio of 659.96, a P/E/G ratio of 10.84 and a beta of 2.68. The business has a 50-day moving average price of $101.18 and a two-hundred day moving average price of $86.53. Palantir Technologies Inc. has a 12-month low of $20.63 and a 12-month high of $133.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies's revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at $48,988. This trade represents a 99.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,945,753 shares of company stock valued at $248,608,160 over the last three months. 9.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PLTR. Morgan Stanley upped their target price on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective on the stock. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Jefferies Financial Group boosted their target price 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, William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $83.95.

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.