Swiss National Bank Decreases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Swiss National Bank lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 4.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,749,400 shares of the company’s stock after selling 261,500 shares during the quarter. Swiss National Bank owned about 0.25% of Palantir Technologies worth $434,827,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp boosted its holdings 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 buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised its stake in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 valued at $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake 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 valued at $122,788,000 after acquiring an additional 2,984,348 shares in the last quarter. Finally, Amundi grew its holdings in shares of Palantir Technologies by 62.7% during the fourth 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 last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the subject of several research reports. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Robert W. Baird boosted their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. William Blair set a $84.00 target price on shares of Palantir Technologies in a research report on Wednesday, March 5th. DA Davidson upped their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Mizuho raised their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Five investment 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.com, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $75.25.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $83.65 on Thursday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The firm has a market capitalization of $196.19 billion, a P/E ratio of 440.29, a PEG ratio of 10.84 and a beta of 2.81. The company’s fifty day moving average is $87.62 and its two-hundred day moving average is $64.49.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 483,987 shares of Palantir Technologies stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the completion of the sale, the insider now directly owns 170,273 shares in the company, valued at approximately $12,681,933.04. This trade represents a 73.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares in the company, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 985,838 shares of company stock valued at $75,333,389. Corporate insiders own 12.93% of the company’s stock.

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.