Massachusetts Financial Services Co. MA Sells 403,538 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Massachusetts Financial Services Co. MA reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 44.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 507,866 shares of the company's stock after selling 403,538 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Palantir Technologies were worth $38,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PLTR. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 8.6% during 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 bought a new position in shares of Palantir Technologies during the 4th quarter valued at $1,360,191,000. Charles Schwab Investment Management Inc. raised its position 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 worth $986,431,000 after purchasing an additional 655,815 shares during the period. Bank of New York Mellon Corp lifted its stake in Palantir Technologies by 10.9% in the fourth quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company's stock worth $971,367,000 after purchasing an additional 1,262,479 shares during the last quarter. Finally, Amundi boosted its position in Palantir Technologies by 62.7% during the fourth quarter. Amundi now owns 6,804,915 shares of the company's stock valued at $514,656,000 after buying an additional 2,623,524 shares during the period. 45.65% of the stock is currently owned by institutional investors.

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Palantir Technologies Stock Up 5.2 %

Shares of NASDAQ PLTR traded up $3.83 during trading on Monday, reaching $77.84. The company had a trading volume of 168,283,621 shares, compared to its average volume of 69,613,366. The business's 50-day moving average is $92.67 and its 200 day moving average is $71.18. The stock has a market cap of $182.56 billion, a PE ratio of 409.71, a P/E/G ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41.

Insider Activity at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares of the company's stock, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now owns 592 shares of the company's stock, valued at approximately $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,993,175 shares of company stock valued at $253,549,610. 12.93% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PLTR shares. William Blair set a $84.00 target price on Palantir Technologies in a research note on Wednesday, March 5th. Northland Securities increased their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research note on Tuesday, February 4th. DA Davidson upped their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Wedbush reissued an "outperform" rating and issued a $120.00 price target on shares of Palantir Technologies in a report on Monday, March 3rd. Finally, Citigroup upped their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $75.19.

Palantir Technologies 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.