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

Columbia Asset Management acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, Holdings Channel.com reports. The fund acquired 2,851 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently made changes to their positions in PLTR. State Street Corp boosted its stake in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 acquiring an additional 4,127,306 shares in the last quarter. Norges Bank bought a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $1,360,191,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock valued at $986,431,000 after purchasing an additional 655,815 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Palantir Technologies by 10.9% in the fourth quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock worth $971,367,000 after purchasing an additional 1,262,479 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research reports. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. UBS Group increased their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Mizuho lifted their price target on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Jefferies Financial Group upped their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Finally, Bank of America lifted their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $75.19.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $84.68 on Wednesday. The stock has a market cap of $198.60 billion, a price-to-earnings ratio of 445.71, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The firm has a 50-day moving average of $92.47 and a two-hundred day moving average of $70.22. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $48,988. This represents a 99.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,379,785 shares of company stock valued at $281,528,938. Corporate insiders own 12.93% of the company’s stock.

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.