OVERSEA CHINESE BANKING Corp Ltd Buys 990 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,139 shares of the company’s stock after purchasing an additional 990 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Palantir Technologies were worth $1,447,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PLTR. State Street Corp increased its holdings in Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 acquiring an additional 16,598,253 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 acquiring an additional 4,667,955 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of 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 acquiring an additional 2,984,348 shares in the last quarter. Finally, Amundi increased its holdings in shares of Palantir Technologies by 62.7% in the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock worth $514,656,000 after acquiring an additional 2,623,524 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Loop Capital lowered their price target on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Cantor Fitzgerald increased their price target on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Citigroup increased their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. William Blair set a $84.00 price objective on Palantir Technologies in a research report on Wednesday, March 5th. Finally, DA Davidson upped their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $74.45.

Palantir Technologies Stock Up 2.6 %

PLTR opened at $86.10 on Thursday. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The stock has a market cap of $201.94 billion, a price-to-earnings ratio of 453.18, a PEG ratio of 10.84 and a beta of 2.81. The business has a 50 day moving average of $88.70 and a 200-day moving average of $66.37.

Insider Activity

In other news, insider Shyam Sankar sold 30,000 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the transaction, the insider now owns 702,786 shares in the company, valued at approximately $64,958,509.98. This trade represents a 4.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95 % 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 valued at $281,528,938 over the last three months. Insiders own 12.93% of the company’s stock.

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.