Royal London Asset Management Ltd. Grows Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Royal London Asset Management Ltd. increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 1.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 849,242 shares of the company’s stock after buying an additional 11,027 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Palantir Technologies were worth $64,228,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC grew its stake 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 purchasing an additional 16,598,253 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Palantir Technologies by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock valued at $986,431,000 after purchasing an additional 655,815 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of 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 valued at $971,367,000 after purchasing an additional 1,262,479 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after purchasing an additional 1,004,603 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PLTR. Northland Securities lifted their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Citigroup lifted their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. UBS Group raised their price target on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. DA Davidson raised their price target on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, William Blair set a $84.00 price target on Palantir Technologies in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.45.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $86.10 on Thursday. The stock has a fifty day moving average of $88.70 and a two-hundred day moving average of $66.37. The company has a market capitalization of $201.94 billion, a price-to-earnings ratio of 453.18, a PEG ratio of 10.84 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.

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $51,545.44. This trade represents a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,379,785 shares of company stock valued at $281,528,938. Corporate insiders own 12.93% of the company’s stock.

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.