Chevy Chase Trust Holdings LLC Sells 4,054 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Chevy Chase Trust Holdings LLC cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,076,126 shares of the company’s stock after selling 4,054 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Palantir Technologies were worth $81,387,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PLTR. State Street Corp boosted its holdings in Palantir Technologies by 96.4% in 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 in the last quarter. 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 worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after purchasing an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Palantir Technologies by 60.5% in 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 boosted its holdings in 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 purchasing an additional 2,984,348 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in 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 report on Tuesday, February 4th. UBS Group boosted their target price 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. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. DA Davidson boosted their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Wedbush boosted their target price 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. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $69.44.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 1,007,496 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $63.96, for a total value of $64,439,444.16. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $411,407,221.68. This trade represents a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,346,976 shares of company stock valued at $642,660,729 over the last three months. 12.93% of the stock is owned by insiders.

Palantir Technologies Price Performance

PLTR opened at $117.91 on Friday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $118.66. The company’s 50 day simple moving average is $80.12 and its 200-day simple moving average is $55.28. The stock has a market capitalization of $268.60 billion, a P/E ratio of 620.61, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81.

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.