Pitcairn Co. Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Pitcairn Co. bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,716 shares of the company's stock, valued at approximately $281,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. boosted its stake in Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock valued at $67,000 after buying an additional 448 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in Palantir Technologies in the 4th quarter worth approximately $876,000. Destiny Wealth Partners LLC purchased a new stake in Palantir Technologies in the fourth quarter valued at $3,233,000. Coldstream Capital Management Inc. acquired a new stake in Palantir Technologies during the 3rd quarter worth about $639,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at about $11,769,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 5.5 %

PLTR stock traded down $5.02 during trading on Thursday, reaching $86.99. 70,149,913 shares of the stock were exchanged, compared to its average volume of 70,718,219. The business has a 50 day moving average price of $93.02 and a 200-day moving average price of $72.30. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The firm has a market capitalization of $204.01 billion, a price-to-earnings ratio of 455.18, a P/E/G ratio of 10.84 and a beta of 2.74.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PLTR shares. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Cantor Fitzgerald upped their price target on Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Robert W. Baird raised their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Royal Bank of Canada boosted their price objective on Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group increased 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. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $75.19.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexandra W. Schiff sold 6,776 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the transaction, the director now directly owns 184,617 shares of the company's stock, valued at $15,993,370.71. The trade was a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,989,975 shares of company stock worth $253,328,090 over the last three months. Insiders own 12.93% of the company's stock.

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.