Truist Financial Corp Has $42.95 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Truist Financial Corp lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 18.1% in the fourth quarter, HoldingsChannel reports. The firm owned 567,940 shares of the company’s stock after purchasing an additional 87,078 shares during the period. Truist Financial Corp’s holdings in Palantir Technologies were worth $42,953,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PLTR. Roxbury Financial LLC acquired a new stake in Palantir Technologies during the 4th quarter worth about $27,000. First PREMIER Bank acquired a new stake in Palantir Technologies during the 4th quarter worth about $28,000. Wolff Wiese Magana LLC boosted its position in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the period. Sierra Ocean LLC acquired a new stake in Palantir Technologies during the 4th quarter worth about $31,000. Finally, R Squared Ltd acquired a new stake in Palantir Technologies during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $124.62 on Wednesday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.00. The company has a market capitalization of $283.89 billion, a price-to-earnings ratio of 655.93, a PEG ratio of 11.44 and a beta of 2.81. The stock’s 50 day simple moving average is $83.91 and its 200 day simple moving average is $58.13.

Wall Street Analyst Weigh In

A number of brokerages have commented on PLTR. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Robert W. Baird raised their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Mizuho raised their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Bank of America raised their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada raised their price target on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $69.44.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred 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 sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,301,387 shares of company stock valued at $575,821,045. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Company 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.