Brown Brothers Harriman & Co. Grows Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Brown Brothers Harriman & Co. lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 19.0% during the 4th quarter, HoldingsChannel reports. The fund owned 8,181 shares of the company’s stock after purchasing an additional 1,306 shares during the period. Brown Brothers Harriman & Co.’s holdings in Palantir Technologies were worth $619,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. DnB Asset Management AS grew its holdings in Palantir Technologies by 5.8% in the fourth quarter. DnB Asset Management AS now owns 357,354 shares of the company’s stock valued at $27,034,000 after purchasing an additional 19,515 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of Palantir Technologies by 31.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 80,531 shares of the company’s stock valued at $6,091,000 after buying an additional 19,258 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Palantir Technologies by 13.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 709,512 shares of the company’s stock valued at $53,660,000 after acquiring an additional 82,165 shares during the period. Norges Bank purchased a new stake in Palantir Technologies in the 4th quarter worth $1,360,191,000. Finally, Blair William & Co. IL raised its position in Palantir Technologies by 14.9% during the fourth quarter. Blair William & Co. IL now owns 71,429 shares of the company’s stock worth $5,402,000 after acquiring an additional 9,255 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research reports. Northland Securities boosted their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. William Blair set a $84.00 price objective on Palantir Technologies in a research note on Wednesday, March 5th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Robert W. Baird lifted their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Mizuho increased their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Stock Down 4.7 %

PLTR stock opened at $85.85 on Monday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The business has a fifty day moving average of $91.98 and a two-hundred day moving average of $69.53. The stock has a market cap of $201.35 billion, a price-to-earnings ratio of 451.87, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is currently owned by insiders.

Palantir Technologies 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.