Renaissance Technologies LLC Has $1.72 Billion Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Renaissance Technologies LLC reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 40.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,789,809 shares of the company’s stock after selling 15,629,431 shares during the period. Palantir Technologies comprises about 2.6% of Renaissance Technologies LLC’s investment portfolio, making the stock its largest holding. Renaissance Technologies LLC owned 1.00% of Palantir Technologies worth $1,723,596,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. bought a new position in shares of Palantir Technologies in the 3rd quarter valued at about $280,000. Quantinno Capital Management LP grew its stake in Palantir Technologies by 335.0% in the third quarter. Quantinno Capital Management LP now owns 115,698 shares of the company’s stock valued at $4,304,000 after purchasing an additional 89,098 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Palantir Technologies by 3,106.8% during the 3rd quarter. Wellington Management Group LLP now owns 775,208 shares of the company’s stock worth $28,838,000 after purchasing an additional 751,034 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in shares of Palantir Technologies by 26.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 99,012 shares of the company’s stock valued at $3,683,000 after buying an additional 20,425 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its stake in shares of Palantir Technologies by 17.2% in the third quarter. EP Wealth Advisors LLC now owns 20,073 shares of the company’s stock valued at $747,000 after buying an additional 2,941 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 5.2 %

NASDAQ:PLTR opened at $77.84 on Tuesday. The stock’s 50-day moving average is $92.72 and its 200-day moving average is $71.47. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The stock has a market cap of $182.56 billion, a P/E ratio of 409.71, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at $4,983,793.75. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather A. Planishek sold 18,537 shares of Palantir Technologies stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $102.32, for a total value of $1,896,705.84. Following the completion of the transaction, the insider now directly owns 493,469 shares of the company’s stock, valued at approximately $50,491,748.08. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,989,975 shares of company stock valued at $253,328,090 in the last ninety days. 12.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. William Blair set a $84.00 price target on Palantir Technologies in a report on Wednesday, March 5th. Bank of America raised their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Mizuho upped their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $75.19.

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.