Pinebridge Investments L.P. Has $6.61 Million Stake in Palantir Technologies Inc. (NYSE:PLTR)

Pinebridge Investments L.P. increased its holdings in shares of Palantir Technologies Inc. (NYSE:PLTRFree Report) by 82.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 384,969 shares of the company’s stock after purchasing an additional 174,273 shares during the quarter. Pinebridge Investments L.P.’s holdings in Palantir Technologies were worth $6,609,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Palantir Technologies by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 231,647 shares of the company’s stock worth $3,706,000 after purchasing an additional 7,763 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Palantir Technologies in the 3rd quarter worth about $177,000. Amalgamated Bank raised its stake in Palantir Technologies by 7.6% in the 3rd quarter. Amalgamated Bank now owns 221,353 shares of the company’s stock worth $3,542,000 after purchasing an additional 15,626 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in Palantir Technologies by 11.1% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 206,718 shares of the company’s stock worth $3,307,000 after purchasing an additional 20,657 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Palantir Technologies by 111.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 274,315 shares of the company’s stock worth $4,389,000 after purchasing an additional 144,370 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Heather A. Planishek sold 2,398 shares of the firm’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 transaction, the insider now owns 639,696 shares in the company, valued at $13,625,524.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Peter Thiel sold 7,044,756 shares of Palantir Technologies stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total value of $174,639,501.24. Following the sale, the director now owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Heather A. Planishek sold 2,398 shares of Palantir Technologies stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total transaction of $51,077.40. Following the completion of the sale, the insider now owns 639,696 shares in the company, valued at approximately $13,625,524.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,374,894 shares of company stock valued at $413,597,314. 12.93% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup boosted their target price on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Tuesday, May 7th. HSBC boosted their target price on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Bank of America boosted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada boosted their target price on shares of Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a research report on Tuesday, May 7th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $20.65.

Check Out Our Latest Report on Palantir Technologies

Palantir Technologies Stock Down 2.4 %

Shares of NYSE:PLTR opened at $23.23 on Friday. The firm has a market capitalization of $51.73 billion, a PE ratio of 198.31, a P/E/G ratio of 5.30 and a beta of 2.70. Palantir Technologies Inc. has a twelve month low of $13.56 and a twelve month high of $27.50. The company has a 50-day moving average price of $21.96 and a two-hundred day moving average price of $20.89.

Palantir Technologies (NYSE:PLTRGet Free Report) last announced its earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $634.34 million for the quarter, compared to the consensus estimate of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. Analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

About Palantir Technologies

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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