New York Life Investment Management LLC Purchases 154,139 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

New York Life Investment Management LLC grew its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 127.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 275,020 shares of the company’s stock after buying an additional 154,139 shares during the period. New York Life Investment Management LLC’s holdings in Palantir Technologies were worth $20,800,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PLTR. State Street Corp boosted its holdings in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after buying an additional 2,984,348 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Palantir Technologies by 226.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after buying an additional 1,969,213 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on PLTR. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Northland Securities lifted their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. DA Davidson lifted their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Wedbush lifted their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, Cantor Fitzgerald lifted their target price 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. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.21.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $89.31 on Thursday. The firm has a market cap of $203.45 billion, a price-to-earnings ratio of 470.08, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The company has a 50 day moving average price of $86.79 and a 200-day moving average price of $60.88. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41.

Insider Activity

In other news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,719,783 shares of company stock valued at $477,414,743 in the last three months. 12.93% of the stock is currently owned by corporate insiders.

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.