AQR Capital Management LLC Has $123.79 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

AQR Capital Management LLC increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 216.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,636,828 shares of the company's stock after purchasing an additional 1,119,795 shares during the period. AQR Capital Management LLC owned approximately 0.07% of Palantir Technologies worth $123,793,000 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. Norges Bank acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC raised its holdings in Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the period. Wellington Management Group LLP lifted its stake in Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after buying an additional 3,509,311 shares during the period. Finally, Capital World Investors bought a new stake in shares of Palantir Technologies during the fourth quarter worth $253,816,000. Institutional investors own 45.65% of the company's stock.

Wall Street Analyst Weigh In

PLTR has been the topic of several research reports. UBS Group boosted their price objective 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. Jefferies Financial Group upped their price objective on Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Northland Securities increased their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target for the company. Finally, Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $74.71.

Palantir Technologies Stock Performance

NASDAQ:PLTR traded up $8.08 during mid-day trading on Friday, hitting $124.28. 102,421,600 shares of the stock were exchanged, compared to its average volume of 75,192,849. The firm's 50-day simple moving average is $90.44 and its 200 day simple moving average is $78.89. The stock has a market capitalization of $291.48 billion, a price-to-earnings ratio of 654.14, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a fifty-two week low of $20.50 and a fifty-two week high of $125.41.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 sale, the insider now directly owns 592 shares in the company, valued at $48,988. This represents a 99.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,989,975 shares of company stock valued at $253,328,090. 12.93% of the stock is currently owned by corporate insiders.

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.