World Investment Advisors raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 137.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,144 shares of the company's stock after purchasing an additional 12,828 shares during the quarter. World Investment Advisors' holdings in Palantir Technologies were worth $1,675,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Palantir Technologies in the 4th quarter worth approximately $1,360,191,000. Geode Capital Management LLC increased its stake in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. Wellington Management Group LLP increased its stake in shares of Palantir Technologies by 504.0% in the fourth 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 during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Palantir Technologies during the fourth quarter worth $240,236,000. Finally, Lord Abbett & CO. LLC lifted its position in Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company's stock valued at $122,788,000 after purchasing an additional 2,984,348 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.
Palantir Technologies Stock Up 19.0 %
Shares of NASDAQ PLTR traded up $14.69 during midday trading on Wednesday, hitting $92.01. The stock had a trading volume of 186,405,483 shares, compared to its average volume of 70,690,907. The stock has a 50 day simple moving average of $93.02 and a 200-day simple moving average of $72.30. The company has a market capitalization of $215.80 billion, a PE ratio of 484.29, a P/E/G ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41.
Insider Buying and Selling at Palantir Technologies
In other Palantir Technologies news, insider Heather A. Planishek sold 18,537 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $102.32, for a total transaction of $1,896,705.84. Following the transaction, the insider now owns 493,469 shares of the company's stock, valued at approximately $50,491,748.08. The trade was a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 88,129 shares of the company's stock, valued at $9,059,661.20. This trade represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,989,975 shares of company stock worth $253,328,090. Corporate insiders own 12.93% of the company's stock.
Analysts Set New Price Targets
PLTR has been the topic of several analyst reports. Cantor Fitzgerald increased their price target on Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Wedbush reaffirmed an "outperform" rating and set a $120.00 target price on shares of Palantir Technologies in a report on Monday, March 3rd. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Daiwa Capital Markets began coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective on the stock. Finally, William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. Five equities 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $75.19.
Check Out Our Latest Research Report on PLTR
About Palantir Technologies
(
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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