1,106 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Purchased by Rialto Wealth Management LLC

Rialto Wealth Management LLC 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 (SEC). The fund purchased 1,106 shares of the company’s stock, valued at approximately $84,000.

Several other hedge funds have also bought and sold shares of PLTR. State Street Corp lifted its stake in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the period. Geode Capital Management LLC raised its position in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after acquiring an additional 808,444 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Palantir Technologies by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock worth $986,431,000 after acquiring an additional 655,815 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position 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 valued at $971,367,000 after acquiring an additional 1,262,479 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 5.7 %

NASDAQ PLTR opened at $85.07 on Friday. The stock has a fifty day simple moving average of $87.43 and a 200-day simple moving average of $63.49. The stock has a market cap of $199.51 billion, a PE ratio of 447.74, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the sale, the insider now directly owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total value of $1,212,423.20. Following the transaction, the director now directly owns 88,129 shares in the company, valued at approximately $9,059,661.20. The trade was a 11.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,435,838 shares of company stock valued at $107,260,889 over the last 90 days. 12.93% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PLTR has been the topic of several research analyst reports. Mizuho raised their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. William Blair raised shares of Palantir Technologies from an “underperform” rating to a “market perform” rating in a report on Wednesday. Wedbush reiterated an “outperform” rating and set a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. Robert W. Baird lifted their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $74.79.

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.