Geode Capital Management LLC Grows Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Geode Capital Management LLC boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 8.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 52,074,232 shares of the company’s stock after buying an additional 4,127,306 shares during the period. Geode Capital Management LLC’s holdings in Palantir Technologies were worth $3,929,401,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PLTR. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $27,000. First PREMIER Bank bought a new position in Palantir Technologies in the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its holdings in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. HighMark Wealth Management LLC raised 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 valued at $30,000 after buying an additional 166 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new position in shares of Palantir Technologies in the fourth quarter worth $31,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $84.40 on Tuesday. The company has a market cap of $197.95 billion, a P/E ratio of 444.23, a PEG ratio of 10.84 and a beta of 2.81. The firm has a 50-day simple moving average of $92.23 and a two-hundred day simple moving average of $69.88. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research analyst reports. Cantor Fitzgerald raised their target price 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. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Mizuho lifted their target price on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. UBS Group increased their price target on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Loop Capital reduced their price objective on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $74.45.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on 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 completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,379,785 shares of company stock valued at $281,528,938. 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.