Russell Investments Group Ltd. Boosts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Russell Investments Group Ltd. boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 16.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 823,719 shares of the company's stock after purchasing an additional 117,232 shares during the period. Russell Investments Group Ltd.'s holdings in Palantir Technologies were worth $69,580,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC bought a new stake in shares of Palantir Technologies in the first quarter valued at $520,232,000. Goldman Sachs Group Inc. raised its stake in shares of Palantir Technologies by 38.5% in 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 buying an additional 4,221,392 shares during the period. Capital World Investors bought a new stake in shares of Palantir Technologies in the fourth quarter valued at $253,816,000. Northern Trust Corp raised its stake in shares of Palantir Technologies by 20.4% in the fourth 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 during the period. Finally, Invesco Ltd. raised its stake in shares of Palantir Technologies by 20.3% in the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after buying an additional 2,998,716 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PLTR. Bank of America boosted their price objective on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Wedbush set a $200.00 price objective on Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group boosted their price objective on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Citigroup reiterated a "neutral" rating and set a $177.00 price objective (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price objective for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $136.61.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 35,480 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of the transaction, the insider directly owned 367,691 shares in the company, valued at approximately $46,472,465.49. This represents a 8.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 309,696 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $39,142,477.44. Following the completion of the transaction, the insider owned 592 shares of the company's stock, valued at $74,822.88. The trade was a 99.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,515,632 shares of company stock worth $196,472,623. Company insiders own 9.23% of the company's stock.

Palantir Technologies Trading Down 1.4%

PLTR opened at $184.37 on Thursday. The stock has a 50-day moving average price of $148.82 and a 200-day moving average price of $117.81. Palantir Technologies Inc. has a 12-month low of $29.31 and a 12-month high of $190.00. The stock has a market capitalization of $435.10 billion, a P/E ratio of 614.59, a PEG ratio of 10.54 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share (EPS) 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 firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. During the same period in the prior year, the business earned $0.09 EPS. The company's revenue for the quarter was up 48.0% compared to the same quarter last year. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current 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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