Pinebridge Investments L.P. Raises Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Pinebridge Investments L.P. lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 55.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508,041 shares of the company’s stock after buying an additional 180,932 shares during the quarter. Pinebridge Investments L.P.’s holdings in Palantir Technologies were worth $38,423,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLTR. World Investment Advisors LLC acquired a new position in shares of Palantir Technologies during the 3rd quarter worth $347,000. Wilmington Savings Fund Society FSB grew its position in Palantir Technologies by 48.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 17,538 shares of the company’s stock worth $652,000 after buying an additional 5,747 shares during the period. Synovus Financial Corp increased its holdings in Palantir Technologies by 85.9% in the third quarter. Synovus Financial Corp now owns 17,898 shares of the company’s stock valued at $666,000 after buying an additional 8,270 shares in the last quarter. Tri Ri Asset Management Corp acquired a new stake in shares of Palantir Technologies during the 3rd quarter valued at approximately $23,403,000. Finally, Franklin Resources Inc. boosted its stake in shares of Palantir Technologies by 102.3% during the 3rd quarter. Franklin Resources Inc. now owns 171,653 shares of the company’s stock worth $6,385,000 after acquiring an additional 86,793 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Up 3.5 %

PLTR stock opened at $93.99 on Wednesday. The company has a market cap of $220.44 billion, a price-to-earnings ratio of 494.71, a PEG ratio of 10.84 and a beta of 2.74. The business has a fifty day simple moving average of $90.17 and a 200-day simple moving average of $75.74. Palantir Technologies Inc. has a 52 week low of $20.50 and a 52 week high of $125.41.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s 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 directly owns 592 shares in the company, valued at $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares of the company’s stock, valued at $4,983,793.75. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,989,975 shares of company stock valued at $253,328,090. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. William Blair set a $84.00 price objective on Palantir Technologies in a research note on Wednesday, March 5th. Jefferies Financial Group lifted their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Northland Securities raised their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Wedbush reissued an “outperform” rating and set a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $74.71.

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.