Truvestments Capital LLC Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Truvestments Capital LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,311 shares of the company’s stock after purchasing an additional 142 shares during the period. Truvestments Capital LLC’s holdings in Palantir Technologies were worth $931,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PLTR. State Street Corp boosted its stake in shares of Palantir Technologies by 96.4% in 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 lifted its position in shares of Palantir Technologies by 52.9% in the 3rd 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 during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Palantir Technologies by 60.5% in the 3rd 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 during the period. Lord Abbett & CO. LLC lifted its position in shares of Palantir Technologies by 943.2% in the 3rd 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 during the period. Finally, Amundi lifted its position in shares of Palantir Technologies by 62.7% in the 4th quarter. Amundi now owns 6,804,915 shares of the company’s stock worth $514,656,000 after purchasing an additional 2,623,524 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PLTR shares. DA Davidson raised 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. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Robert W. Baird lifted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Bank of America lifted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Five equities research 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’s stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $75.25.

Palantir Technologies Trading Up 2.2 %

Shares of NASDAQ PLTR opened at $78.05 on Wednesday. The firm has a 50 day moving average of $87.46 and a 200 day moving average of $64.35. The firm has a market capitalization of $183.06 billion, a price-to-earnings ratio of 410.81, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the transaction, the insider now directly owns 170,273 shares in the company, valued at $12,681,933.04. This represents a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $43,908.64. This represents a 99.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 985,838 shares of company stock worth $75,333,389. 12.93% of the stock is owned by company insiders.

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.