Russell Investments Group Ltd. Raises Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Russell Investments Group Ltd. raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 20.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 706,487 shares of the company’s stock after buying an additional 121,312 shares during the quarter. Russell Investments Group Ltd.’s holdings in Palantir Technologies were worth $53,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Palantir Technologies during the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Palantir Technologies during the 4th quarter worth $240,236,000. Finally, Lord Abbett & CO. LLC grew its position in Palantir Technologies by 943.2% in 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. 45.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on PLTR. Loop Capital reaffirmed a “buy” rating on shares of Palantir Technologies in a research note on Friday. William Blair set a $84.00 target price on Palantir Technologies in a research note on Wednesday, March 5th. Wedbush reissued an “outperform” rating and set a $120.00 price target on shares of Palantir Technologies in a research note on Monday, March 3rd. Citigroup boosted their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, Mizuho lifted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $75.19.

Palantir Technologies Trading Down 11.5 %

Shares of NASDAQ PLTR opened at $74.01 on Monday. The firm has a fifty day simple moving average of $92.67 and a two-hundred day simple moving average of $71.18. The firm has a market capitalization of $173.58 billion, a PE ratio of 389.55, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41.

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 98,177 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the transaction, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. This represents a 19.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $51,545.44. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,993,175 shares of company stock valued at $253,549,610 over the last three months. Corporate insiders own 12.93% of the company’s stock.

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.