Wellington Management Group LLP Increases Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Wellington Management Group LLP grew its position in shares of Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 3,106.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 775,208 shares of the company's stock after purchasing an additional 751,034 shares during the quarter. Wellington Management Group LLP's holdings in Palantir Technologies were worth $28,838,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the 3rd quarter worth $25,000. Summit Securities Group LLC purchased a new stake in Palantir Technologies in the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies in the 2nd quarter worth $25,000. Creekmur Asset Management LLC increased its holdings in Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company's stock worth $40,000 after acquiring an additional 335 shares in the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE increased its holdings in Palantir Technologies by 47.5% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company's stock worth $44,000 after acquiring an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Northland Securities lifted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 5th. Baird R W raised shares of Palantir Technologies to a "hold" rating in a research note on Thursday. Wedbush lifted their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, November 25th. Finally, William Blair reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Wednesday, December 4th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $38.40.

Palantir Technologies Stock Up 1.6 %

PLTR traded up $1.17 on Friday, reaching $74.37. The company's stock had a trading volume of 50,894,494 shares, compared to its average volume of 59,859,570. The stock has a 50 day moving average of $55.02 and a two-hundred day moving average of $38.01. The company has a market capitalization of $169.42 billion, a price-to-earnings ratio of 369.15, a P/E/G ratio of 9.70 and a beta of 2.87. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $80.91.

Palantir Technologies (NYSE:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company's revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company's stock, valued at $52,755,242.88. This trade represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.35, for a total value of $218,100.00. Following the sale, the director now directly owns 152,280 shares of the company's stock, valued at approximately $5,535,378. This represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,252,313 shares of company stock valued at $1,967,089,241. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Company Profile

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.