Transcendent Capital Group LLC Purchases 3,959 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Transcendent Capital Group LLC lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 43.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,019 shares of the company’s stock after buying an additional 3,959 shares during the quarter. Transcendent Capital Group LLC’s holdings in Palantir Technologies were worth $985,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PLTR. State Street Corp grew its holdings in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 52.9% during 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 purchasing an additional 16,598,253 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the period. Lord Abbett & CO. LLC increased its holdings 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 valued at $122,788,000 after buying an additional 2,984,348 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Palantir Technologies by 226.2% during the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock worth $105,636,000 after buying an additional 1,969,213 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PLTR. Cantor Fitzgerald lifted their price target on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Loop Capital initiated coverage on shares of Palantir Technologies in a research report on Thursday, February 20th. They set a “buy” rating and a $141.00 price target for the company. Northland Securities lifted their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” 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. Finally, The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.21.

Palantir Technologies Stock Down 10.5 %

Shares of PLTR opened at $90.68 on Tuesday. The company has a market capitalization of $206.57 billion, a price-to-earnings ratio of 477.29, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The stock’s 50-day moving average price is $86.17 and its 200-day moving average price is $60.27.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $50,128,019.74. This represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 18,537 shares of Palantir Technologies stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $102.32, for a total transaction of $1,896,705.84. Following the completion of the transaction, the insider now directly owns 493,469 shares of the company’s stock, valued at $50,491,748.08. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,719,783 shares of company stock valued at $477,414,743. 12.93% of the stock is owned by company insiders.

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.