ICICI Prudential Asset Management Co Ltd Invests $2.15 Million in Palantir Technologies Inc. (NASDAQ:PLTR)

ICICI Prudential Asset Management Co Ltd purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 28,397 shares of the company’s stock, valued at approximately $2,148,000.

A number of other large investors have also recently bought and sold shares of PLTR. State Street Corp boosted its position in Palantir Technologies by 96.4% in the third 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 during the last quarter. Geode Capital Management LLC lifted its holdings in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. International Assets Investment Management LLC grew its stake in Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after acquiring an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake 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 worth $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $66.77, for a total value of $650,740.42. Following the transaction, the director now directly owns 111,644 shares in the company, valued at approximately $7,454,469.88. This represents a 8.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 1,620,395 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $406,583,028.18. The trade was a 20.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,301,387 shares of company stock worth $575,821,045. 12.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Wedbush boosted their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. UBS Group boosted their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Bank of America boosted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $69.44.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $124.62 on Wednesday. The firm’s 50 day moving average price is $83.91 and its 200-day moving average price is $58.13. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.00. The firm has a market cap of $283.89 billion, a P/E ratio of 655.93, a P/E/G ratio of 12.25 and a beta of 2.81.

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.