Clearbridge Investments LLC Purchases 678,510 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Clearbridge Investments LLC boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 1,088.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 740,874 shares of the company’s stock after acquiring an additional 678,510 shares during the period. Clearbridge Investments LLC’s holdings in Palantir Technologies were worth $56,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Townsquare Capital LLC increased its holdings in Palantir Technologies by 87.9% during the third quarter. Townsquare Capital LLC now owns 38,006 shares of the company’s stock valued at $1,414,000 after buying an additional 17,775 shares during the period. Glenmede Trust Co. NA increased its holdings in shares of Palantir Technologies by 87.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 21,558 shares of the company’s stock valued at $802,000 after acquiring an additional 10,040 shares during the period. Public Sector Pension Investment Board purchased a new position in shares of Palantir Technologies in the 3rd quarter valued at $3,207,000. Hantz Financial Services Inc. raised its position in shares of Palantir Technologies by 37.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,585 shares of the company’s stock worth $96,000 after acquiring an additional 705 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Palantir Technologies during the 3rd quarter worth $65,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of recent research reports. Citigroup boosted their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Loop Capital decreased their target price on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Mizuho upped their price target on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock 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 given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $74.45.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 310,000 shares of Palantir Technologies stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value 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. The trade was a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,379,785 shares of company stock worth $281,528,938 over the last quarter. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $84.40 on Tuesday. The business’s 50-day moving average is $92.23 and its two-hundred day moving average is $69.88. The company has a market capitalization of $197.95 billion, a P/E ratio of 444.23, a P/E/G 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.

Palantir Technologies Company 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.