D.A. Davidson & CO. Grows Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

D.A. Davidson & CO. increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 2.0% during the 4th quarter, Holdings Channel reports. The firm owned 71,838 shares of the company’s stock after purchasing an additional 1,431 shares during the quarter. D.A. Davidson & CO.’s holdings in Palantir Technologies were worth $5,433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PLTR. State Street Corp boosted its holdings in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC boosted its stake in Palantir Technologies by 52.9% in 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 acquiring an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after acquiring an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 60.5% in 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 acquiring an additional 4,667,955 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after acquiring an additional 2,984,348 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $112.06 on Thursday. The firm has a market cap of $255.27 billion, a P/E ratio of 589.82, a P/E/G ratio of 12.25 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The firm has a 50-day simple moving average of $84.70 and a two-hundred day simple moving average of $58.51.

Analysts Set New Price Targets

A number of research analysts have weighed in on PLTR shares. Citigroup boosted their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Wedbush boosted their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $69.44.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 1,620,395 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $406,583,028.18. This trade represents a 20.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,301,387 shares of company stock worth $575,821,045. 12.93% of the stock is owned by corporate insiders.

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.