Chevy Chase Trust Holdings LLC Reduces Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,076,126 shares of the company’s stock after selling 4,054 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Palantir Technologies were worth $81,387,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC grew its stake in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC grew its stake in Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after purchasing an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its stake 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 worth $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 0.4 %

Shares of NASDAQ:PLTR opened at $117.91 on Friday. The company’s fifty day moving average is $80.12 and its two-hundred day moving average is $55.28. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $118.66. The company has a market cap of $268.60 billion, a P/E ratio of 620.61, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 1,007,496 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $63.96, for a total transaction of $64,439,444.16. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $411,407,221.68. The trade was a 13.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $66.77, for a total transaction of $650,740.42. Following the transaction, the director now owns 111,644 shares in the company, valued at approximately $7,454,469.88. This represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,346,976 shares of company stock valued at $642,660,729 in the last three months. 12.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLTR. Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Jefferies Financial Group lifted their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Royal Bank of Canada lifted their target price on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird lifted their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies 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.