Teacher Retirement System of Texas Buys 507,339 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Teacher Retirement System of Texas grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 3,741.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 520,898 shares of the company’s stock after purchasing an additional 507,339 shares during the quarter. Teacher Retirement System of Texas’ holdings in Palantir Technologies were worth $39,396,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp grew its stake in Palantir Technologies by 96.4% in 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 grew its stake in 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 acquiring an additional 16,598,253 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Palantir Technologies by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock worth $986,431,000 after acquiring an additional 655,815 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Palantir Technologies by 10.9% in the 4th quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock worth $971,367,000 after acquiring an additional 1,262,479 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after purchasing an additional 1,004,603 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Up 1.5 %

NASDAQ PLTR opened at $87.39 on Friday. The company has a fifty day simple moving average of $89.08 and a two-hundred day simple moving average of $66.51. The stock has a market cap of $204.96 billion, a P/E ratio of 459.97, a P/E/G 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.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $51,545.44. This trade represents a 99.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the transaction, the insider now directly owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. This trade represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,379,785 shares of company stock valued at $281,528,938. Insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Loop Capital dropped their price objective on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. 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 research note on Tuesday, February 4th. Finally, UBS Group increased their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Five 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 data from MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $74.45.

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.