Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.5% during the fourth quarter, HoldingsChannel reports. The firm owned 457,274 shares of the company’s stock after selling 2,220 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Palantir Technologies were worth $34,584,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PLTR. State Street Corp lifted its position in shares of 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of 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 worth $460,798,000 after buying an additional 4,667,955 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after buying an additional 2,984,348 shares during the last quarter. Finally, Amundi increased its stake in shares of Palantir Technologies by 62.7% in the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock worth $514,656,000 after buying an additional 2,623,524 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLTR. Mizuho lifted their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Wedbush restated an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a research note on Monday, March 3rd. Cantor Fitzgerald lifted their price target 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. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. Finally, William Blair set a $84.00 price target on shares of Palantir Technologies in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $75.25.

Palantir Technologies Stock Down 10.0 %

Palantir Technologies stock opened at $76.38 on Tuesday. The stock has a market cap of $179.14 billion, a P/E ratio of 402.02, 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. The company’s fifty day simple moving average is $87.41 and its 200-day simple moving average is $64.03.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now owns 512,006 shares of the company’s stock, valued at $59,372,215.76. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 416,053 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $43,908.64. This represents a 99.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,435,838 shares of company stock valued at $107,260,889 in the last quarter. Insiders own 12.93% of the company’s stock.

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.