Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Truist Financial Corp

Truist Financial Corp lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 18.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 567,940 shares of the company’s stock after acquiring an additional 87,078 shares during the period. Truist Financial Corp’s holdings in Palantir Technologies were worth $42,953,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PLTR. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies during the 3rd quarter valued at approximately $25,000. Prestige Wealth Management Group LLC raised its position in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at approximately $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at approximately $28,000. Finally, Wolff Wiese Magana LLC raised its position in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 4.6 %

Shares of PLTR stock opened at $124.62 on Wednesday. The stock has a 50-day simple moving average of $83.91 and a 200 day simple moving average of $58.13. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.00. The stock has a market capitalization of $283.89 billion, a P/E ratio of 655.93, a P/E/G ratio of 11.44 and a beta of 2.81.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 1,620,395 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $406,583,028.18. This trade represents a 20.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $7,454,469.88. This represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,301,387 shares of company stock valued at $575,821,045 over the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PLTR. Bank of America upped their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Jefferies Financial Group increased their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Northland Securities increased their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Finally, The Goldman Sachs Group increased their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $69.44.

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.