Trexquant Investment LP Boosts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Trexquant Investment LP grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 696.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 396,187 shares of the company’s stock after buying an additional 346,445 shares during the period. Palantir Technologies accounts for about 0.3% of Trexquant Investment LP’s holdings, making the stock its 29th largest holding. Trexquant Investment LP’s holdings in Palantir Technologies were worth $29,964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PLTR. State Street Corp lifted its stake in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC raised its holdings in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Charles Schwab Investment Management Inc. grew its position 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 valued at $986,431,000 after buying an additional 655,815 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Palantir Technologies by 10.9% during the 4th quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock worth $971,367,000 after acquiring an additional 1,262,479 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Down 1.7 %

PLTR stock opened at $84.40 on Tuesday. The company’s 50-day moving average price is $92.23 and its 200 day moving average price is $69.88. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The company has a market cap of $197.95 billion, a P/E ratio of 444.23, a P/E/G ratio of 10.84 and a beta of 2.81.

Wall Street Analyst Weigh In

PLTR has been the topic of several research reports. Mizuho raised their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. William Blair set a $84.00 price target on Palantir Technologies in a research note on Wednesday, March 5th. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, Bank of America upped their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report 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 stock. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $74.45.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 592 shares in the company, valued at $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 in the company, valued at $64,958,509.98. This represents a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,379,785 shares of company stock worth $281,528,938. Company insiders own 12.93% of the company’s stock.

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.