Pinebridge Investments L.P. Purchases 180,932 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Pinebridge Investments L.P. grew its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 55.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 508,041 shares of the company's stock after purchasing an additional 180,932 shares during the quarter. Pinebridge Investments L.P.'s holdings in Palantir Technologies were worth $38,423,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Roxbury Financial LLC purchased a new stake in Palantir Technologies during the 4th quarter valued at about $27,000. First PREMIER Bank bought a new stake in Palantir Technologies during the 4th quarter valued at $28,000. Wolff Wiese Magana LLC boosted its position in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after buying an additional 265 shares during the period. HighMark Wealth Management LLC increased its position in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after acquiring an additional 166 shares during the period. Finally, Sierra Ocean LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $31,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Palantir Technologies stock traded up $5.00 during mid-day trading on Friday, reaching $112.78. 103,457,514 shares of the stock traded hands, compared to its average volume of 74,033,162. Palantir Technologies Inc. has a 12-month low of $20.50 and a 12-month high of $125.41. The business's 50-day moving average is $89.34 and its 200-day moving average is $76.88. The stock has a market capitalization of $264.51 billion, a PE ratio of 593.61, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PLTR shares. Royal Bank of Canada boosted their target price on Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Bank of America raised their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target for the company. Jefferies Financial Group lifted their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley decreased their target price on Palantir Technologies from $95.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus target price of $74.71.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the completion of the sale, the insider now owns 702,786 shares in the company, valued at approximately $64,958,509.98. This represents a 4.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $48,988. This trade represents a 99.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,989,975 shares of company stock worth $253,328,090 in the last three months. 12.93% of the stock is currently owned by company insiders.

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.