Teacher Retirement System of Texas Acquires 507,339 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Teacher Retirement System of Texas grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 3,741.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 520,898 shares of the company’s stock after acquiring an additional 507,339 shares during the period. Teacher Retirement System of Texas’ holdings in Palantir Technologies were worth $39,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PLTR. State Street Corp grew its position in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC boosted its holdings 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 worth $1,777,568,000 after buying an additional 16,598,253 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in 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 worth $460,798,000 after buying an additional 4,667,955 shares during the period. Lord Abbett & CO. LLC boosted its holdings in Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after buying an additional 2,984,348 shares during the period. Finally, Amundi boosted its holdings in Palantir Technologies by 62.7% in the 4th quarter. Amundi now owns 6,804,915 shares of the company’s stock worth $514,656,000 after buying an additional 2,623,524 shares during the period. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

PLTR has been the subject of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a report on Monday, March 3rd. Bank of America upped their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. DA Davidson upped their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Cantor Fitzgerald boosted their price target 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. Five equities 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’s stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $74.45.

Insider Activity

In related news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated 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 owns 62,139 shares in the company, valued at $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,379,785 shares of company stock worth $281,528,938. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Trading Up 1.5 %

Shares of NASDAQ PLTR opened at $87.39 on Friday. The firm’s 50-day moving average price is $89.08 and its 200-day moving average price is $66.51. The stock has a market capitalization of $204.96 billion, a price-to-earnings ratio of 459.97, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41.

Palantir Technologies 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.