Straightline Group LLC Acquires New Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Straightline Group LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,714 shares of the company’s stock, valued at approximately $205,000.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Palantir Technologies during the fourth quarter worth $1,360,191,000. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares during the period. Wellington Management Group LLP lifted its stake in Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock worth $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Invesco Ltd. boosted its holdings in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Palantir Technologies in the 4th quarter valued at about $240,236,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

PLTR opened at $77.84 on Tuesday. The stock has a market capitalization 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. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The business’s 50-day simple moving average is $92.72 and its 200-day simple moving average is $71.47.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock valued at $253,328,090 over the last quarter. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Daiwa America raised shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective on the stock. Jefferies Financial Group lifted their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $75.19.

About Palantir Technologies

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.