Hendershot Investments Inc. Makes New Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Hendershot Investments Inc. acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,000 shares of the company’s stock, valued at approximately $529,000.

Other large investors have also modified their holdings of the company. State Street Corp increased its holdings in 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 buying an additional 40,498,024 shares during the period. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Palantir Technologies by 3,476.2% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Palantir Technologies by 60.5% in the third 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 during the period. Finally, Lord Abbett & CO. LLC raised its position in Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the 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 transaction, the director now directly owns 88,129 shares in the company, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,656,687 shares of company stock worth $1,040,105,687 over the last 90 days. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $110.85 on Friday. The company has a market cap of $252.52 billion, a price-to-earnings ratio of 583.45, a P/E/G ratio of 11.44 and a beta of 2.81. The stock’s fifty day moving average price is $77.34 and its two-hundred day moving average price is $53.24. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $116.30.

Analyst Ratings Changes

A number of research firms have weighed in on PLTR. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $95.00 in a research note on Tuesday. DA Davidson increased their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday. Royal Bank of Canada boosted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday. Finally, Citigroup upped their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $69.44.

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.