360 Financial Inc. Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

360 Financial Inc. acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,000 shares of the company's stock, valued at approximately $378,000.

Several other hedge funds and other institutional investors have also modified their holdings of PLTR. Norges Bank acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at $1,360,191,000. Geode Capital Management LLC raised its holdings in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after buying an additional 3,907,022 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors acquired a new position in shares of Palantir Technologies during the 4th quarter valued at about $253,816,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $116.20 on Friday. The business has a 50 day simple moving average of $90.44 and a 200 day simple moving average of $78.89. Palantir Technologies Inc. has a one year low of $20.50 and a one year high of $125.41. The company has a market capitalization of $272.53 billion, a PE ratio of 611.61, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Morgan Stanley decreased their price objective on shares of Palantir Technologies from $95.00 to $90.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. William Blair set a $84.00 target price on shares of Palantir Technologies in a research note on Wednesday, March 5th. Bank of America boosted their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird raised their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $74.71.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the sale, the director now directly owns 88,129 shares in the company, valued at $9,059,661.20. This represents a 11.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the transaction, the insider now owns 512,006 shares of the company's stock, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,989,975 shares of company stock worth $253,328,090. Corporate insiders own 12.93% of the company's stock.

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.

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