Panagora Asset Management Inc. Boosts Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Panagora Asset Management Inc. increased its position in Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 185.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,695 shares of the company's stock after acquiring an additional 49,839 shares during the period. Panagora Asset Management Inc.'s holdings in Palantir Technologies were worth $1,317,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Palantir Technologies by 34.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,363 shares of the company's stock valued at $694,000 after acquiring an additional 11,219 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in Palantir Technologies by 4.3% in the 3rd quarter. Yousif Capital Management LLC now owns 18,227 shares of the company's stock worth $292,000 after buying an additional 750 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Palantir Technologies by 3.3% in the 3rd quarter. Teacher Retirement System of Texas now owns 140,431 shares of the company's stock worth $2,247,000 after buying an additional 4,487 shares during the last quarter. M&T Bank Corp boosted its holdings in Palantir Technologies by 4.6% in the 3rd quarter. M&T Bank Corp now owns 76,825 shares of the company's stock worth $1,229,000 after buying an additional 3,413 shares during the last quarter. Finally, FDx Advisors Inc. acquired a new stake in Palantir Technologies in the 3rd quarter worth about $190,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Heather A. Planishek sold 2,398 shares of the company's stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the sale, the insider now directly owns 639,696 shares of the company's stock, valued at approximately $13,625,524.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Alexandra W. Schiff sold 5,000 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $24.91, for a total transaction of $124,550.00. Following the completion of the transaction, the director now directly owns 191,783 shares in the company, valued at approximately $4,777,314.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather A. Planishek sold 2,398 shares of the firm's stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the sale, the insider now owns 639,696 shares of the company's stock, valued at $13,625,524.80. The disclosure for this sale can be found here. In the last three months, insiders sold 18,412,722 shares of company stock valued at $414,573,750. Company insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

PLTR has been the topic of several recent research reports. Jefferies Financial Group upgraded Palantir Technologies from an "underperform" rating to a "hold" rating and boosted their target price for the stock from $13.00 to $22.00 in a report on Tuesday, February 6th. Citigroup boosted their target price on Palantir Technologies from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, May 7th. Royal Bank of Canada boosted their target price on Palantir Technologies from $5.00 to $9.00 and gave the company an "underperform" rating in a research report on Tuesday, May 7th. DA Davidson boosted their target price on Palantir Technologies from $19.00 to $24.00 and gave the company a "neutral" rating in a research report on Tuesday, May 7th. Finally, William Blair reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average price target of $20.65.

Palantir Technologies Price Performance

Palantir Technologies stock traded down $0.45 during midday trading on Thursday, hitting $20.73. 36,791,114 shares of the stock were exchanged, compared to its average volume of 60,980,645. Palantir Technologies Inc. has a 1 year low of $11.82 and a 1 year high of $27.50. The firm has a market cap of $46.15 billion, a P/E ratio of 172.72, a P/E/G ratio of 4.90 and a beta of 2.76. The company has a 50 day moving average price of $22.44 and a two-hundred day moving average price of $20.73.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.