Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Pinebridge Investments L.P.

Pinebridge Investments L.P. boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 55.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 508,041 shares of the company’s stock after acquiring an additional 180,932 shares during the period. Pinebridge Investments L.P.’s holdings in Palantir Technologies were worth $38,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Geode Capital Management LLC increased its stake 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 worth $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. 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 buying an additional 3,907,022 shares during the last quarter. Invesco Ltd. raised its holdings in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors acquired a new position in Palantir Technologies during the 4th quarter worth $253,816,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

PLTR opened at $93.99 on Wednesday. The stock’s 50 day moving average price is $90.17 and its 200 day moving average price is $75.74. The stock has a market cap of $220.44 billion, a P/E ratio of 494.71, a P/E/G ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a 12 month low of $20.50 and a 12 month high of $125.41.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 6,776 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the sale, the director now owns 184,617 shares of the company’s stock, valued at $15,993,370.71. This trade represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,989,975 shares of company stock valued at $253,328,090. 12.93% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Northland Securities increased their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Jefferies Financial Group increased their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Cantor Fitzgerald boosted their price target on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley reduced their price objective on Palantir Technologies from $95.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Finally, Daiwa Capital Markets began coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 target price for the company. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $74.71.

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.