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

Equitable Trust Co. purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,226 shares of the company’s stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp grew its holdings in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC grew its stake in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after purchasing an additional 808,444 shares in the last quarter. FMR LLC lifted its stake in Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after purchasing an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PLTR. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Cantor Fitzgerald boosted their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Royal Bank of Canada increased their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. UBS Group boosted their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Mizuho raised their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $69.44.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of Palantir Technologies stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the completion of the sale, the director now owns 88,129 shares of the company’s stock, valued at approximately $9,059,661.20. The trade was a 11.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 1,007,496 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $63.96, for a total transaction of $64,439,444.16. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $411,407,221.68. The trade was a 13.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,833,085 shares of company stock worth $924,999,929. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $112.62 on Wednesday. The firm has a market cap of $256.55 billion, a P/E ratio of 592.77, a PEG ratio of 11.44 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $118.66. The stock’s 50-day moving average is $78.34 and its two-hundred day moving average is $54.24.

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.