Vanguard Group Inc. Sells 22,597,915 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Vanguard Group Inc. lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,460,997 shares of the company’s stock after selling 22,597,915 shares during the quarter. Vanguard Group Inc. owned about 9.72% of Palantir Technologies worth $16,749,095,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PLTR. State Street Corp raised its holdings in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC grew its position 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 purchasing an additional 16,598,253 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of Palantir Technologies by 943.2% during the third 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 during the last quarter. Amundi raised its position in shares of Palantir Technologies by 62.7% during the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock valued at $514,656,000 after buying an additional 2,623,524 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Palantir Technologies by 226.2% during the third 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 during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This represents a 99.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,379,785 shares of company stock worth $281,528,938. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group upped their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Robert W. Baird upped their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Bank of America upped their price objective 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. Finally, Mizuho upped their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $74.45.

Palantir Technologies Trading Up 4.1 %

Shares of PLTR stock opened at $90.96 on Friday. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The firm’s 50 day moving average is $89.55 and its 200-day moving average is $67.18. The firm has a market capitalization of $213.33 billion, a price-to-earnings ratio of 478.76, a PEG ratio of 10.84 and a beta of 2.81.

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.