Financial Counselors Inc. Purchases New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Financial Counselors Inc. acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,475 shares of the company’s stock, valued at approximately $338,000.

A number of other institutional investors have also recently added to or reduced their stakes in PLTR. State Street Corp raised its holdings 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 purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised its holdings in Palantir Technologies by 52.9% during 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 buying an additional 16,598,253 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Palantir Technologies by 943.2% in the third 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 last quarter. Amundi boosted its stake in shares of Palantir Technologies by 62.7% during the 4th quarter. Amundi now owns 6,804,915 shares of the company’s stock worth $514,656,000 after acquiring an additional 2,623,524 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Palantir Technologies by 226.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after acquiring an additional 1,969,213 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares in the company, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % 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. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of recent analyst reports. DA Davidson upped their target price on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. UBS Group upped their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. 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 report on Tuesday, February 4th. Finally, Cantor Fitzgerald raised their price target on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Five 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $85.85 on Friday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The firm has a market capitalization of $201.35 billion, a PE ratio of 451.87, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The company’s fifty day moving average price is $91.98 and its two-hundred day moving average price is $69.04.

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.