Lord Abbett & CO. LLC Has $185.97 Million Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Lord Abbett & CO. LLC lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,203,428 shares of the company's stock after selling 21,874 shares during the period. Lord Abbett & CO. LLC owned about 0.09% of Palantir Technologies worth $185,969,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Northern Trust Corp grew its stake in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after buying an additional 3,299,779 shares in the last quarter. Invesco Ltd. grew its holdings in Palantir Technologies by 20.3% during the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Palantir Technologies by 38.5% during the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 4.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after purchasing an additional 571,544 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Palantir Technologies by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock valued at $1,099,861,000 after purchasing an additional 187,860 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In related news, insider David A. Glazer sold 3,418 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $430,565.46. Following the transaction, the insider owned 492,079 shares in the company, valued at approximately $61,987,191.63. This trade represents a 0.69% 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 Ryan D. Taylor sold 30,000 shares of Palantir Technologies stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $175.00, for a total value of $5,250,000.00. Following the completion of the transaction, the insider owned 363,755 shares in the company, valued at approximately $63,657,125. This represents a 7.62% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,515,632 shares of company stock valued at $196,472,623. 9.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on PLTR. Wall Street Zen raised Palantir Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Cantor Fitzgerald increased their price objective on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on Palantir Technologies in a report on Tuesday, August 5th. Loop Capital increased their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Trading Down 1.4%

PLTR stock opened at $184.37 on Thursday. The firm has a market capitalization of $435.10 billion, a PE ratio of 614.59, a PEG ratio of 10.54 and a beta of 2.60. Palantir Technologies Inc. has a 1-year low of $29.31 and a 1-year high of $190.00. The business's 50 day simple moving average is $148.82 and its 200 day simple moving average is $117.81.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same period in the previous year, the firm earned $0.09 EPS. The firm's revenue was up 48.0% compared to the same quarter last year. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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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