Palantir Technologies Inc. (NASDAQ:PLTR) Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 1,088.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 740,874 shares of the company’s stock after purchasing an additional 678,510 shares during the quarter. Clearbridge Investments LLC’s holdings in Palantir Technologies were worth $56,032,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PLTR. Mather Group LLC. boosted its holdings in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after buying an additional 448 shares during the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $876,000. Destiny Wealth Partners LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $3,233,000. Coldstream Capital Management Inc. acquired a new position in Palantir Technologies in the 3rd quarter valued at $639,000. Finally, Kieckhefer Group LLC purchased a new position in Palantir Technologies in the 4th quarter valued at $11,769,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLTR. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Robert W. Baird increased their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Northland Securities boosted their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. Jefferies Financial Group increased their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Finally, Wedbush reissued an “outperform” rating and set a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $74.45.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $84.40 on Tuesday. The firm has a market cap of $197.95 billion, a P/E ratio of 444.23, a P/E/G ratio of 10.84 and a beta of 2.81. The firm’s 50 day moving average price is $92.23 and its 200-day moving average price is $69.88. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephen Andrew Cohen sold 310,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 592 shares in the company, valued at $51,545.44. This represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,379,785 shares of company stock valued at $281,528,938 over the last quarter. 12.93% of the stock is owned by company insiders.

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.