Wellington Management Group LLP Buys 3,907,022 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Wellington Management Group LLP lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 504.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,682,230 shares of the company’s stock after purchasing an additional 3,907,022 shares during the period. Wellington Management Group LLP owned 0.20% of Palantir Technologies worth $354,117,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PLTR. Heritage Wealth Management Inc. CA raised its position in Palantir Technologies by 0.4% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock worth $2,195,000 after acquiring an additional 111 shares in the last quarter. Westover Capital Advisors LLC increased its stake in shares of Palantir Technologies by 1.8% during the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after purchasing an additional 130 shares during the last quarter. Tritonpoint Wealth LLC raised its holdings in shares of Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after purchasing an additional 132 shares during the period. Twin Peaks Wealth Advisors LLC lifted its stake in Palantir Technologies by 2.2% in the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock valued at $493,000 after purchasing an additional 139 shares during the last quarter. Finally, Truvestments Capital LLC grew its holdings in Palantir Technologies by 1.2% during the fourth quarter. Truvestments Capital LLC now owns 12,311 shares of the company’s stock worth $931,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 310,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $51,545.44. The trade was a 99.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,379,785 shares of company stock valued at $281,528,938 over the last three months. 12.93% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PLTR. Mizuho upped their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Royal Bank of Canada increased their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Northland Securities raised their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. UBS Group upped their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $75.19.

Palantir Technologies Stock Up 0.3 %

PLTR stock opened at $84.68 on Wednesday. The company’s 50-day moving average price is $92.47 and its two-hundred day moving average price is $70.22. The firm has a market cap of $198.60 billion, a P/E ratio of 445.71, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41.

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.