Palantir Technologies Inc. (NASDAQ:PLTR) Shares Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 49.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,726 shares of the company’s stock after acquiring an additional 5,551 shares during the period. Verdence Capital Advisors LLC’s holdings in Palantir Technologies were worth $1,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in PLTR. State Street Corp increased its position in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC increased its position in shares of Palantir Technologies by 52.9% in the 3rd 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 period. Charles Schwab Investment Management Inc. increased its position in shares of Palantir Technologies by 60.5% in the 3rd 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 period. Lord Abbett & CO. LLC increased its position in shares of Palantir Technologies by 943.2% in the 3rd 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 period. Finally, Principal Financial Group Inc. increased its position in shares of Palantir Technologies by 226.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after acquiring an additional 1,969,213 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on PLTR. Citigroup upped their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Mizuho upped their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Bank of America upped their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” 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, DA Davidson upped their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.79.

Palantir Technologies Trading Up 6.8 %

Shares of Palantir Technologies stock opened at $90.13 on Thursday. The firm has a market capitalization of $211.39 billion, a PE ratio of 474.39, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The firm’s 50-day moving average price is $87.34 and its 200 day moving average price is $62.79.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 416,053 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $43,908.64. This represents a 99.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the sale, the director now owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,439,783 shares of company stock valued at $107,497,043. 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.