Smith Thornton Advisors LLC Invests $329,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Smith Thornton Advisors LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,350 shares of the company’s stock, valued at approximately $329,000.

Several other hedge funds have also modified their holdings of the stock. State Street Corp raised its holdings in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC increased 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 in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after acquiring an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Palantir Technologies by 594.3% in the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after acquiring an additional 3,038,861 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on PLTR shares. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Morgan Stanley reissued an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a research report on Monday, January 6th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Mizuho upped their target price on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Finally, UBS Group assumed coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target for the company. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $42.12.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $68.14 on Thursday. The stock’s 50 day simple moving average is $69.70 and its 200 day simple moving average is $46.54. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The company has a market capitalization of $155.22 billion, a price-to-earnings ratio of 340.72, a PEG ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 earnings per share. On average, analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the sale, the director now directly owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 in the last quarter. Insiders own 12.93% of the company’s stock.

About Palantir Technologies

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.