Meeder Asset Management Inc. Buys 27,889 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Meeder Asset Management Inc. grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 63.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,988 shares of the company’s stock after acquiring an additional 27,889 shares during the quarter. Meeder Asset Management Inc.’s holdings in Palantir Technologies were worth $5,444,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its position in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $1,360,191,000. Charles Schwab Investment Management Inc. increased its position in shares of Palantir Technologies by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock valued at $986,431,000 after acquiring an additional 655,815 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Palantir Technologies by 10.9% in the 4th quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock worth $971,367,000 after acquiring an additional 1,262,479 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on PLTR. Robert W. Baird lifted their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Citigroup lifted their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Royal Bank of Canada upped their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” 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, Jefferies Financial Group boosted their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $74.45.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the transaction, the insider now directly owns 170,273 shares in the company, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,379,785 shares of company stock worth $281,528,938 in the last three months. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Down 4.7 %

NASDAQ PLTR opened at $85.85 on Monday. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The stock has a market cap of $201.35 billion, a price-to-earnings ratio of 451.87, a PEG ratio of 10.84 and a beta of 2.81. The company’s 50 day moving average is $91.98 and its two-hundred day moving average is $69.53.

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.