Franklin Resources Inc. Boosts Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Franklin Resources Inc. boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 402.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 863,257 shares of the company's stock after acquiring an additional 691,604 shares during the period. Franklin Resources Inc.'s holdings in Palantir Technologies were worth $65,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG raised its position in shares of Palantir Technologies by 23.6% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 63,750 shares of the company's stock worth $4,821,000 after acquiring an additional 12,153 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Palantir Technologies by 63.2% in the 4th quarter. Meeder Asset Management Inc. now owns 71,988 shares of the company's stock valued at $5,444,000 after buying an additional 27,889 shares in the last quarter. AIA Group Ltd purchased a new position in shares of Palantir Technologies in the 4th quarter worth approximately $2,777,000. Wellington Management Group LLP raised its stake in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Palantir Technologies by 37.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 159,243 shares of the company's stock worth $12,044,000 after purchasing an additional 43,550 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have recently commented on PLTR. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Morgan Stanley upgraded shares of Palantir Technologies from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Baird R W upgraded Palantir Technologies to a "hold" rating in a research note on Thursday, December 12th. Citigroup lifted their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Finally, UBS Group increased their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Five 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.com, the company has an average rating of "Hold" and a consensus price target of $75.19.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 98,177 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. This trade represents a 19.58 % 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, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction dated 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 of the company's stock, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,993,175 shares of company stock worth $253,549,610. Company insiders own 12.93% of the company's stock.

Palantir Technologies Trading Down 11.5 %

PLTR traded down $9.59 during trading hours on Friday, hitting $74.01. 146,810,995 shares of the company's stock were exchanged, compared to its average volume of 69,096,867. The firm has a market cap of $173.58 billion, a P/E ratio of 389.55, a price-to-earnings-growth 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. The firm has a 50 day moving average of $92.67 and a 200 day moving average of $70.70.

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.