Krane Funds Advisors LLC Invests $298,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Krane Funds Advisors LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, HoldingsChannel reports. The firm acquired 3,934 shares of the company’s stock, valued at approximately $298,000.

Several other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in shares of Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Norges Bank acquired a new stake in Palantir Technologies in the fourth quarter worth approximately $1,360,191,000. FMR LLC boosted its stake in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Invesco Ltd. increased its position in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Palantir Technologies by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock worth $986,431,000 after buying an additional 655,815 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $74.01 on Monday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The business’s 50-day moving average price is $92.67 and its two-hundred day moving average price is $71.18. The company has a market capitalization of $173.58 billion, a P/E ratio of 389.55, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 310,000 shares of Palantir Technologies 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 transaction, the insider now owns 592 shares of the company’s stock, valued at $51,545.44. This trade represents a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the transaction, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. The trade was a 19.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,993,175 shares of company stock worth $253,549,610 over the last ninety days. 12.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on PLTR shares. Citigroup raised their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Cantor Fitzgerald lifted their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Northland Securities increased their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Royal Bank of Canada upped their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Finally, Mizuho raised their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.19.

Palantir Technologies Company 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.