ICICI Prudential Asset Management Co Ltd bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,397 shares of the company's stock, valued at approximately $2,148,000.
Other hedge funds also recently made changes to their positions in the company. Mather Group LLC. raised its position in Palantir Technologies by 101.4% during 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock worth $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC bought a new position in shares of Palantir Technologies in the 4th quarter worth $876,000. Destiny Wealth Partners LLC acquired a new position in Palantir Technologies during the 4th quarter valued at about $3,233,000. Finally, State of Alaska Department of Revenue increased its position in 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 valued at $13,786,000 after buying an additional 68,945 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.
Palantir Technologies Stock Performance
Shares of PLTR traded down $1.37 during midday trading on Friday, hitting $104.90. 37,350,964 shares of the stock were exchanged, compared to its average volume of 88,017,008. The firm has a market cap of $238.96 billion, a P/E ratio of 551.46, a P/E/G ratio of 11.52 and a beta of 2.81. The stock has a fifty day simple moving average of $85.36 and a 200 day simple moving average of $58.84. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41.
Insider Activity at Palantir Technologies
In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm'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 completion of the sale, the director now owns 88,129 shares in the company, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,680,992 shares of company stock worth $473,395,877. Company insiders own 12.93% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on PLTR. Bank of America upped their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. UBS Group upped their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Baird R W raised Palantir Technologies to a "hold" rating in a report on Thursday, December 12th. DA Davidson upped their price target on Palantir Technologies from $47.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Finally, Mizuho increased their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus target price of $73.21.
Get Our Latest Research Report on PLTR
Palantir Technologies 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.
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