State of Tennessee Department of Treasury Purchases 239,304 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

State of Tennessee Department of Treasury boosted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 62.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 620,501 shares of the company's stock after acquiring an additional 239,304 shares during the quarter. State of Tennessee Department of Treasury's holdings in Palantir Technologies were worth $46,928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PLTR. Heritage Wealth Management Inc. CA raised its holdings in Palantir Technologies by 0.4% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after purchasing an additional 111 shares in the last quarter. Westover Capital Advisors LLC increased its position in shares of Palantir Technologies by 1.8% during the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock valued at $554,000 after purchasing an additional 130 shares during the period. Tritonpoint Wealth LLC raised its stake in shares of Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company's stock worth $537,000 after buying an additional 132 shares in the last quarter. Twin Peaks Wealth Advisors LLC lifted its holdings in shares of Palantir Technologies by 2.2% in the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company's stock valued at $493,000 after buying an additional 139 shares during the period. Finally, Truvestments Capital LLC boosted its stake in Palantir Technologies by 1.2% during the fourth quarter. Truvestments Capital LLC now owns 12,311 shares of the company's stock valued at $931,000 after buying an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total value of $1,212,423.20. Following the transaction, the director now directly owns 88,129 shares of the company's stock, valued at $9,059,661.20. The trade was a 11.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were 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 represents a 2.64 % decrease in their ownership of the stock. 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 over the last quarter. Company insiders own 12.93% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PLTR shares. UBS Group lifted their price target on Palantir Technologies from $80.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Loop Capital restated a "buy" rating on shares of Palantir Technologies in a report on Friday, April 4th. Morgan Stanley dropped their price objective on shares of Palantir Technologies from $95.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada increased their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Finally, Robert W. Baird boosted their target price on Palantir Technologies from $70.00 to $100.00 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, sixteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $74.71.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR traded up $5.00 during trading hours on Friday, reaching $112.78. The stock had a trading volume of 103,170,703 shares, compared to its average volume of 73,840,106. The business's fifty day moving average is $89.58 and its two-hundred day moving average is $76.39. Palantir Technologies Inc. has a twelve month low of $20.50 and a twelve month high of $125.41. The company has a market cap of $264.51 billion, a price-to-earnings ratio of 593.61, a PEG ratio of 10.84 and a beta of 2.74.

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.