TIAA Trust National Association Sells 228,751 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

TIAA Trust National Association cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 80.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,381 shares of the company's stock after selling 228,751 shares during the period. TIAA Trust National Association's holdings in Palantir Technologies were worth $4,188,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company's stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC boosted its position in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company's stock worth $122,788,000 after acquiring an additional 2,984,348 shares during the period. Amundi raised its holdings in Palantir Technologies by 62.7% in the 4th quarter. Amundi now owns 6,804,915 shares of the company's stock valued at $514,656,000 after acquiring an additional 2,623,524 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Palantir Technologies by 226.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company's stock worth $105,636,000 after purchasing an additional 1,969,213 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 483,987 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the sale, the insider now directly owns 170,273 shares of the company's stock, valued at $12,681,933.04. The trade was a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction 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 transaction, the director now owns 195,393 shares of the company's stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,379,785 shares of company stock worth $281,528,938. Corporate insiders own 12.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PLTR shares. Royal Bank of Canada increased their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Jefferies Financial Group raised 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. Wedbush reiterated an "outperform" rating and issued a $120.00 price target on shares of Palantir Technologies in a research note on Monday, March 3rd. Morgan Stanley raised Palantir Technologies from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Finally, Robert W. Baird raised their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $74.45.

Palantir Technologies Trading Down 4.7 %

Shares of Palantir Technologies stock traded down $4.24 on Friday, reaching $85.85. 90,823,164 shares of the company were exchanged, compared to its average volume of 67,978,339. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The stock has a fifty day moving average price of $91.98 and a 200-day moving average price of $69.28. The firm has a market capitalization of $201.35 billion, a price-to-earnings ratio of 451.87, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

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.