Arrowstreet Capital Limited Partnership Makes New $240.24 Million Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

Arrowstreet Capital Limited Partnership bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,176,468 shares of the company’s stock, valued at approximately $240,236,000. Arrowstreet Capital Limited Partnership owned approximately 0.14% of Palantir Technologies as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Prestige Wealth Management Group LLC grew its position in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares in the last quarter. Roxbury Financial LLC acquired a new stake in Palantir Technologies during the fourth quarter worth approximately $27,000. First PREMIER Bank bought a new position in Palantir Technologies during the 4th quarter worth $28,000. Wolff Wiese Magana LLC raised its holdings in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC lifted its position in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the period. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. William Blair set a $84.00 price target on Palantir Technologies in a research note on Wednesday, March 5th. UBS Group boosted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Mizuho lifted their price objective on shares of Palantir Technologies from $44.00 to $80.00 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 boosted their price objective for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Trading Down 4.7 %

PLTR stock opened at $85.85 on Friday. The firm has a market cap of $201.35 billion, a PE ratio of 451.87, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The stock has a 50-day moving average price of $91.98 and a 200-day moving average price of $69.28. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on 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 represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 483,987 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the sale, the insider now directly owns 170,273 shares of the company’s stock, valued at $12,681,933.04. The trade was a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,379,785 shares of company stock valued at $281,528,938 in the last quarter. 12.93% of the stock is currently owned by company insiders.

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.