Canada Pension Plan Investment Board Boosts Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Canada Pension Plan Investment Board increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 98.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,119,241 shares of the company's stock after purchasing an additional 1,546,825 shares during the quarter. Canada Pension Plan Investment Board owned 0.14% of Palantir Technologies worth $235,908,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Zacks Investment Management raised its stake in Palantir Technologies by 76.4% in the fourth quarter. Zacks Investment Management now owns 383,674 shares of the company's stock valued at $29,017,000 after buying an additional 166,138 shares during the period. NewEdge Advisors LLC raised its stake in Palantir Technologies by 2.9% in the 4th quarter. NewEdge Advisors LLC now owns 623,721 shares of the company's stock valued at $45,704,000 after acquiring an additional 17,622 shares during the period. Iron Gate Global Advisors LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at $1,535,000. Insigneo Advisory Services LLC lifted its holdings in Palantir Technologies by 80.7% during the 4th quarter. Insigneo Advisory Services LLC now owns 40,656 shares of the company's stock valued at $3,075,000 after purchasing an additional 18,159 shares during the last quarter. Finally, Operose Advisors LLC bought a new position in Palantir Technologies during the fourth quarter worth $98,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexandra W. Schiff sold 6,776 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the transaction, the director now directly owns 184,617 shares of the company's stock, valued at approximately $15,993,370.71. This represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock worth $253,328,090 over the last ninety days. Company insiders own 12.93% of the company's stock.

Palantir Technologies Trading Up 1.2 %

Shares of NASDAQ PLTR traded up $1.07 during mid-day trading on Friday, hitting $93.78. The company had a trading volume of 83,698,348 shares, compared to its average volume of 72,726,928. The stock's 50-day moving average price is $91.18 and its 200-day moving average price is $74.75. The company has a market capitalization of $219.95 billion, a price-to-earnings ratio of 493.60, a P/E/G ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PLTR shares. Royal Bank of Canada upped their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Northland Securities upped their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research report on Tuesday, February 4th. Loop Capital reiterated a "buy" rating on shares of Palantir Technologies in a research note on Friday, April 4th. Mizuho upped their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Finally, UBS Group lifted their target price on Palantir Technologies from $80.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $74.71.

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.