Palantir Technologies Inc. (NASDAQ:PLTR) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,843,672 shares of the company’s stock after purchasing an additional 1,262,479 shares during the period. Bank of New York Mellon Corp’s holdings in Palantir Technologies were worth $971,367,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PLTR. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth $27,000. First PREMIER Bank acquired a new stake in Palantir Technologies during the fourth quarter worth about $28,000. Wolff Wiese Magana LLC raised its holdings in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. HighMark Wealth Management LLC lifted its stake in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PLTR shares. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Robert W. Baird raised their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Royal Bank of Canada upped their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average target price of $73.21.

Palantir Technologies Stock Down 10.5 %

NASDAQ:PLTR opened at $90.68 on Tuesday. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The company has a market cap of $206.57 billion, a PE ratio of 477.29, a P/E/G ratio of 10.84 and a beta of 2.81. The business’s 50 day moving average is $86.17 and its two-hundred day moving average is $60.27.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the sale, the director now owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This represents a 9.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $50,128,019.74. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,719,783 shares of company stock worth $477,414,743 over the last ninety days. 12.93% of the stock is owned by insiders.

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.