Bridgewater Associates LP reduced its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 97.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,563 shares of the company's stock after selling 510,985 shares during the period. Bridgewater Associates LP's holdings in Palantir Technologies were worth $950,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Norges Bank purchased a new position in Palantir Technologies in the 4th quarter valued at $1,360,191,000. FMR LLC lifted its stake in shares of Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after buying an additional 2,818,090 shares in the last quarter. Invesco Ltd. boosted its position in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Palantir Technologies by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company's stock valued at $986,431,000 after acquiring an additional 655,815 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.
Palantir Technologies Stock Performance
PLTR traded up $3.53 during trading on Tuesday, reaching $94.33. The company's stock had a trading volume of 32,487,584 shares, compared to its average volume of 72,754,848. Palantir Technologies Inc. has a 52-week low of $20.36 and a 52-week high of $125.41. The company has a market capitalization of $221.23 billion, a price-to-earnings ratio of 496.69, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. The company's fifty day moving average price is $90.65 and its 200-day moving average price is $75.61.
Analyst Ratings Changes
A number of brokerages recently commented on PLTR. Bank of America lifted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Mizuho raised their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Loop Capital restated a "buy" rating on shares of Palantir Technologies in a research report on Friday, April 4th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective on the stock. Finally, Jefferies Financial Group upped their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $74.71.
View Our Latest Stock Report on Palantir Technologies
Insider Buying and Selling at Palantir Technologies
In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the business's 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 transaction, the director now owns 88,129 shares in the company, valued at $9,059,661.20. The trade was a 11.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares of the company's stock, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,989,975 shares of company stock worth $253,328,090. 12.93% of the stock is owned by insiders.
Palantir Technologies Company Profile
(
Free Report)
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.
Recommended Stories
Before you consider Palantir Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Palantir Technologies wasn't on the list.
While Palantir Technologies currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
