Farmers & Merchants Investments Inc. Increases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Farmers & Merchants Investments Inc. increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 134.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,340 shares of the company’s stock after purchasing an additional 1,340 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Palantir Technologies were worth $177,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 in the last quarter. Diversify Wealth Management LLC purchased a new position in Palantir Technologies in the fourth quarter worth $876,000. Mather Group LLC. grew its stake in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after purchasing an additional 448 shares during the period. Destiny Wealth Partners LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at $3,233,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares during the period. 45.65% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,656,687 shares of company stock worth $1,040,105,687. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Price Performance

Shares of PLTR opened at $110.85 on Friday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $116.30. The company has a market capitalization of $252.52 billion, a P/E ratio of 583.45, a P/E/G ratio of 11.44 and a beta of 2.81. The firm’s 50 day simple moving average is $77.34 and its 200 day simple moving average is $53.24.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of research analyst reports. UBS Group raised their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Northland Securities lifted their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. Royal Bank of Canada lifted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Jefferies Financial Group upped their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Finally, DA Davidson raised their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $69.44.

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.