Vanguard Group Inc. Has $16.75 Billion Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Vanguard Group Inc. cut its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 9.3% during the 4th quarter, HoldingsChannel reports. The firm owned 221,460,997 shares of the company’s stock after selling 22,597,915 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Palantir Technologies worth $16,749,095,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PLTR. Prestige Wealth Management Group LLC raised its holdings in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Roxbury Financial LLC acquired a new stake in Palantir Technologies in the fourth quarter worth $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies during the fourth quarter worth $28,000. Wolff Wiese Magana LLC increased its position in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC increased its position in shares of Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 592 shares in the company, valued at approximately $51,545.44. This trade represents a 99.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. This represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,379,785 shares of company stock worth $281,528,938. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $90.96 on Friday. The firm has a 50-day moving average of $89.55 and a 200-day moving average of $67.18. The stock has a market cap of $213.33 billion, a PE ratio of 478.76, a P/E/G 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.

Analyst Ratings Changes

Several brokerages have recently issued reports on PLTR. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Jefferies Financial Group increased their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Royal Bank of Canada raised their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” 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 company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a research report on Monday, March 3rd. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $74.45.

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.