36,721 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Acquired by AIA Group Ltd

AIA Group Ltd bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,721 shares of the company’s stock, valued at approximately $2,777,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Norges Bank bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Geode Capital Management LLC grew its position in shares of 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 buying an additional 16,598,253 shares during the period. Wellington Management Group LLP increased its stake in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Palantir Technologies during the 4th quarter valued at $240,236,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the sale, the director now owns 184,617 shares of the company’s stock, valued at approximately $15,993,370.71. This trade represents a 3.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,379,785 shares of company stock worth $281,528,938. Insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research reports. Robert W. Baird raised their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. UBS Group boosted their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Wedbush reiterated an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a report on Monday, March 3rd. William Blair set a $84.00 price objective on Palantir Technologies in a research note on Wednesday, March 5th. Finally, Mizuho upped their target price on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $74.45.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $84.40 on Tuesday. The firm has a market cap of $197.95 billion, a PE ratio of 444.23, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The stock has a fifty day moving average price of $92.23 and a 200-day moving average price of $69.88.

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.