Allspring Global Investments Holdings LLC Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Allspring Global Investments Holdings LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 46.1% during the 4th quarter, Holdings Channel reports. The fund owned 178,499 shares of the company’s stock after buying an additional 56,299 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Palantir Technologies were worth $13,421,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted its stake in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the last quarter. First PREMIER Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its holdings in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the period. Finally, R Squared Ltd acquired a new position in Palantir Technologies during the fourth quarter worth $33,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on PLTR. The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird increased their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Cantor Fitzgerald lifted their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Northland Securities increased their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $69.44.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 38,093 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $405,296,576.58. The trade was a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $42,002.40. This trade represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,339,480 shares of company stock worth $578,221,285 in the last ninety days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 1.1 %

NASDAQ:PLTR opened at $119.16 on Tuesday. The firm has a market capitalization of $271.45 billion, a PE ratio of 627.19, a PEG ratio of 11.44 and a beta of 2.81. The firm’s fifty day simple moving average is $82.84 and its 200 day simple moving average is $57.43. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $120.67.

Palantir Technologies 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.