Vanguard Group Inc. lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,460,997 shares of the company's stock after selling 22,597,915 shares during the period. Vanguard Group Inc. owned 9.72% of Palantir Technologies worth $16,749,095,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Stevens Capital Management LP purchased a new position in Palantir Technologies during the fourth quarter worth approximately $260,000. Guardian Partners Inc. acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $2,212,000. Fortis Capital Management LLC raised its holdings in shares of Palantir Technologies by 38.5% during the 4th quarter. Fortis Capital Management LLC now owns 12,773 shares of the company's stock worth $966,000 after acquiring an additional 3,551 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Palantir Technologies during the 4th quarter valued at about $52,033,000. Finally, AXQ Capital LP purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $353,000. Hedge funds and other institutional investors own 45.65% of the company's stock.
Palantir Technologies Stock Performance
Palantir Technologies stock traded down $4.22 during mid-day trading on Wednesday, reaching $92.28. 81,394,443 shares of the company were exchanged, compared to its average volume of 66,559,435. The firm's 50-day simple moving average is $91.28 and its two-hundred day simple moving average is $68.54. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The firm has a market cap of $216.43 billion, a PE ratio of 485.71, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.
Insider Buying and Selling at Palantir Technologies
In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 62,139 shares of the company's stock, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the transaction, the insider now directly owns 170,273 shares in the company, valued at $12,681,933.04. This represents a 73.97 % 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 valued at $281,528,938. 12.93% of the stock is owned by company insiders.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. Mizuho boosted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Robert W. Baird raised their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Citigroup lifted their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. Bank of America increased their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Finally, Morgan Stanley upgraded shares of Palantir Technologies from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $74.45.
Read Our Latest Stock Analysis on Palantir Technologies
Palantir Technologies Profile
(
Free Report)
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.
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