Tocqueville Asset Management L.P. Boosts Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Tocqueville Asset Management L.P. boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 5.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 125,175 shares of the company’s stock after buying an additional 6,565 shares during the period. Tocqueville Asset Management L.P.’s holdings in Palantir Technologies were worth $9,467,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PLTR. State Street Corp grew its stake in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC lifted its position in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares during the last quarter. Finally, Amundi lifted its position in Palantir Technologies by 62.7% during the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock valued at $514,656,000 after purchasing an additional 2,623,524 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of PLTR opened at $87.35 on Tuesday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The company has a 50-day moving average of $88.06 and a 200 day moving average of $65.86. The firm has a market capitalization of $204.87 billion, a price-to-earnings ratio of 459.76, a PEG ratio of 10.84 and a beta of 2.81.

Wall Street Analyst Weigh In

PLTR has been the subject of several research reports. Royal Bank of Canada increased their price objective 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. Bank of America increased their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Mizuho increased their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, DA Davidson raised their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $74.45.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the transaction, the insider now owns 170,273 shares of the company’s stock, valued at approximately $12,681,933.04. This trade represents a 73.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,069,785 shares of company stock worth $254,537,238 in the last 90 days. 12.93% of the stock is owned by corporate insiders.

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.