Plancorp LLC Invests $556,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Plancorp LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,357 shares of the company's stock, valued at approximately $556,000.

Other institutional investors have also modified their holdings of the company. State Street Corp raised its stake in shares of 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 raised its stake 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 valued at $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Palantir Technologies by 943.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company's stock worth $122,788,000 after buying an additional 2,984,348 shares during the last quarter. Amundi boosted its holdings in Palantir Technologies by 62.7% in the fourth quarter. Amundi now owns 6,804,915 shares of the company's stock worth $514,656,000 after purchasing an additional 2,623,524 shares during the period. Finally, Principal Financial Group Inc. grew its position 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 valued at $105,636,000 after buying an additional 1,969,213 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

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Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wedbush reissued an "outperform" rating and issued a $120.00 price target on shares of Palantir Technologies in a report on Monday, March 3rd. Northland Securities boosted their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a report on Tuesday, February 4th. Baird R W raised shares of Palantir Technologies to a "hold" rating in a report on Thursday, December 12th. Morgan Stanley raised shares of Palantir Technologies from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Finally, DA Davidson raised their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of "Hold" and an average target price of $74.45.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the business's 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 transaction, the insider now owns 512,006 shares in the company, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,379,785 shares of company stock worth $281,528,938. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Down 4.4 %

Shares of Palantir Technologies stock traded down $4.22 during midday trading on Wednesday, hitting $92.28. The company's stock had a trading volume of 81,394,443 shares, compared to its average volume of 66,465,241. The firm has a market capitalization of $216.43 billion, a P/E ratio of 485.71, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The stock has a 50-day simple moving average of $90.80 and a 200-day simple moving average of $68.37.

About Palantir Technologies

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.