Palantir Technologies Inc. (NASDAQ:PLTR) Stake Increased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 9.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,597,201 shares of the company’s stock after purchasing an additional 143,626 shares during the period. Commonwealth Equity Services LLC owned approximately 0.07% of Palantir Technologies worth $120,796,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PLTR. State Street Corp lifted its holdings in shares of Palantir Technologies by 96.4% in the third 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 holdings in shares of Palantir Technologies by 52.9% during 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after acquiring an additional 2,984,348 shares in the last quarter. Finally, Amundi raised its holdings in shares of Palantir Technologies by 62.7% during the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock worth $514,656,000 after acquiring an additional 2,623,524 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several recent research reports. William Blair set a $84.00 price objective on Palantir Technologies in a report on Wednesday, March 5th. Wedbush reiterated an “outperform” rating and set a $120.00 price objective on shares of Palantir Technologies in a report on Monday, March 3rd. 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. Robert W. Baird increased their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group increased their price objective on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.25.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the transaction, the insider now owns 170,273 shares in the company, valued at $12,681,933.04. The trade was a 73.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the sale, the insider now owns 592 shares of the company’s stock, valued at $43,908.64. The trade was a 99.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 985,838 shares of company stock worth $75,333,389 over the last three months. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 7.2 %

PLTR stock opened at $83.65 on Thursday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The company has a market cap of $196.19 billion, a PE ratio of 440.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The business’s 50-day simple moving average is $87.62 and its 200 day simple moving average is $64.49.

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.