Pilgrim Partners Asia Pte Ltd Purchases New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Pilgrim Partners Asia Pte Ltd acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, HoldingsChannel reports. The fund acquired 50,000 shares of the company’s stock, valued at approximately $3,782,000. Palantir Technologies comprises 3.3% of Pilgrim Partners Asia Pte Ltd’s holdings, making the stock its 9th largest position.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp lifted its stake 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 worth $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC lifted its position in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the last quarter. Norges Bank bought a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $1,360,191,000. Charles Schwab Investment Management Inc. grew its position in shares of Palantir Technologies by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock valued at $986,431,000 after purchasing an additional 655,815 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Palantir Technologies by 10.9% during the fourth quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock worth $971,367,000 after purchasing an additional 1,262,479 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. William Blair set a $84.00 price objective on Palantir Technologies in a research note on Wednesday, March 5th. Wedbush reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a research note on Monday, March 3rd. DA Davidson raised their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group increased their price target 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. Finally, Northland Securities boosted their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $75.19.

Palantir Technologies Stock Down 11.5 %

NASDAQ PLTR opened at $74.01 on Friday. The company has a market capitalization of $173.58 billion, a price-to-earnings ratio of 389.55, a PEG ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The stock has a fifty day simple moving average of $92.67 and a 200 day simple moving average of $70.70.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the sale, the director now directly owns 88,129 shares of the company’s stock, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,993,175 shares of company stock valued at $253,549,610. Company 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.