Legal & General Group Plc Sells 4,251,275 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Legal & General Group Plc reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 27.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,231,758 shares of the company’s stock after selling 4,251,275 shares during the period. Legal & General Group Plc owned about 0.49% of Palantir Technologies worth $849,458,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of Palantir Technologies in the fourth quarter worth $1,360,191,000. Geode Capital Management LLC increased its stake in 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 buying an additional 16,598,253 shares during the last quarter. Wellington Management Group LLP lifted its position in Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock worth $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after buying an additional 3,509,311 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Palantir Technologies during the 4th quarter worth about $240,236,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $74.01 on Monday. The firm has a market cap of $173.58 billion, a price-to-earnings ratio of 389.55, a P/E/G ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The firm’s 50-day simple moving average is $92.67 and its 200 day simple moving average is $71.18.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the sale, the director now owns 88,129 shares in the company, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,993,175 shares of company stock valued at $253,549,610. 12.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America upped their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Citigroup upped their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Robert W. Baird increased their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Royal Bank of Canada boosted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $75.19.

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.