Rockbridge Investment Management LCC Has $648,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Rockbridge Investment Management LCC increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,568 shares of the company’s stock after purchasing an additional 214 shares during the quarter. Rockbridge Investment Management LCC’s holdings in Palantir Technologies were worth $648,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PLTR. State Street Corp increased its holdings 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 buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC grew its position in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. Lord Abbett & CO. LLC raised its position in Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares during the last quarter. Amundi boosted its stake in shares of Palantir Technologies by 62.7% during the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock valued at $514,656,000 after purchasing an additional 2,623,524 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Palantir Technologies by 226.2% during the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock worth $105,636,000 after purchasing an additional 1,969,213 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 483,987 shares of the stock in a transaction 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 transaction, the insider now directly owns 170,273 shares in the company, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, January 2nd. The shares were 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 directly owns 62,139 shares of the company’s stock, valued at approximately $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 quarter, insiders have sold 3,379,785 shares of company stock worth $281,528,938. Corporate insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PLTR. Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Loop Capital dropped their price target on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Robert W. Baird boosted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Cantor Fitzgerald raised their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $74.45.

Palantir Technologies Price Performance

Shares of PLTR opened at $92.28 on Thursday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The company has a market cap of $216.43 billion, a PE ratio of 485.71, a P/E/G ratio of 10.84 and a beta of 2.81. The stock has a 50-day moving average of $91.28 and a 200-day moving average of $68.54.

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.