Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 29.2% during the 4th quarter, HoldingsChannel reports. The fund owned 1,020,488 shares of the company’s stock after selling 421,330 shares during the period. Schroder Investment Management Group’s holdings in Palantir Technologies were worth $78,761,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. State Street Corp raised its stake in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the period. Norges Bank purchased a new position in shares of Palantir Technologies in the 4th quarter worth $1,360,191,000. Geode Capital Management LLC boosted 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 last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Palantir Technologies during the fourth quarter valued at about $240,236,000. Finally, Lord Abbett & CO. LLC increased its stake in 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 acquiring an additional 2,984,348 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $85.85 on Monday. The firm has a fifty day moving average of $91.98 and a two-hundred day moving average of $69.53. The firm has a market cap of $201.35 billion, a P/E ratio of 451.87, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at $51,545.44. This trade represents a 99.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction 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 sale, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,379,785 shares of company stock worth $281,528,938. Corporate insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PLTR. Royal Bank of Canada lifted their price objective on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Robert W. Baird boosted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Wedbush reissued an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a research note on Monday, March 3rd. Loop Capital decreased their price target on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, Bank of America boosted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $74.45.

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.