Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 10.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,843,672 shares of the company’s stock after acquiring an additional 1,262,479 shares during the period. Bank of New York Mellon Corp owned 0.56% of Palantir Technologies worth $971,367,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp increased 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 during the period. Geode Capital Management LLC increased its stake in Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after buying an additional 808,444 shares during the last quarter. FMR LLC lifted its stake in shares of Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after acquiring an additional 1,004,603 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Royal Bank of Canada raised 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. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. DA Davidson raised their target price on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Bank of America upped their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $73.21.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now directly owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $66.59, for a total value of $1,997,700.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $50,128,019.74. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,719,783 shares of company stock valued at $477,414,743. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Down 10.5 %

NASDAQ PLTR opened at $90.68 on Tuesday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The business has a fifty day moving average of $86.17 and a 200-day moving average of $60.27. The stock has a market cap of $206.57 billion, a price-to-earnings ratio of 477.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

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.