Alliancebernstein L.P. Has $209.17 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Alliancebernstein L.P. cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,765,658 shares of the company’s stock after selling 122,255 shares during the period. Alliancebernstein L.P. owned about 0.12% of Palantir Technologies worth $209,167,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PLTR. Heritage Wealth Management Inc. CA raised its position in Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after purchasing an additional 111 shares during the last quarter. Westover Capital Advisors LLC raised its holdings in Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after buying an additional 130 shares during the last quarter. Tritonpoint Wealth LLC boosted its position in Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after buying an additional 132 shares during the period. Twin Peaks Wealth Advisors LLC grew its holdings in Palantir Technologies by 2.2% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock worth $493,000 after acquiring an additional 139 shares during the last quarter. Finally, Truvestments Capital LLC increased its position in Palantir Technologies by 1.2% in the 4th quarter. Truvestments Capital LLC now owns 12,311 shares of the company’s stock valued at $931,000 after acquiring an additional 142 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

PLTR stock opened at $84.40 on Tuesday. The stock’s 50 day simple moving average is $92.23 and its 200 day simple moving average is $69.88. The company has a market cap of $197.95 billion, a P/E ratio of 444.23, a price-to-earnings-growth 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Royal Bank of Canada upped their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. UBS Group raised their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Loop Capital cut their price objective on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Finally, Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $74.45.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,379,785 shares of company stock worth $281,528,938 over the last quarter. 12.93% of the stock is currently owned by corporate insiders.

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.