Geode Capital Management LLC Purchases 4,127,306 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Geode Capital Management LLC lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 8.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,074,232 shares of the company’s stock after acquiring an additional 4,127,306 shares during the period. Geode Capital Management LLC owned 2.29% of Palantir Technologies worth $3,929,401,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Townsquare Capital LLC raised its holdings in Palantir Technologies by 87.9% in the third quarter. Townsquare Capital LLC now owns 38,006 shares of the company’s stock worth $1,414,000 after purchasing an additional 17,775 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of Palantir Technologies by 87.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 21,558 shares of the company’s stock worth $802,000 after acquiring an additional 10,040 shares in the last quarter. Public Sector Pension Investment Board bought a new position in shares of Palantir Technologies in the 3rd quarter worth about $3,207,000. Hantz Financial Services Inc. lifted its position in Palantir Technologies by 37.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,585 shares of the company’s stock valued at $96,000 after acquiring an additional 705 shares during the period. Finally, FSA Wealth Management LLC bought a new stake in Palantir Technologies during the third quarter worth about $65,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PLTR shares. Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. UBS Group lifted their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Robert W. Baird increased their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Loop Capital lowered their price target on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, Citigroup increased their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $74.45.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $84.40 on Tuesday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The stock has a fifty day moving average of $92.23 and a 200 day moving average of $69.88. The stock has a market cap of $197.95 billion, a PE ratio of 444.23, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the completion of the sale, the insider now owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. The trade was a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was 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 owns 592 shares of the company’s stock, valued at approximately $48,988. The trade was a 99.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,379,785 shares of company stock worth $281,528,938 in the last three months. 12.93% of the stock is currently owned by company insiders.

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.