Charles Schwab Investment Management Inc. Has $986.43 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Charles Schwab Investment Management Inc. increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,042,855 shares of the company’s stock after buying an additional 655,815 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Palantir Technologies were worth $986,431,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 52.9% during 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 purchasing an additional 16,598,253 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Palantir Technologies by 943.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Palantir Technologies by 226.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after purchasing an additional 1,969,213 shares in the last quarter. Finally, National Pension Service lifted its holdings in shares of Palantir Technologies by 64.8% during the 4th quarter. National Pension Service now owns 4,943,328 shares of the company’s stock valued at $373,913,000 after purchasing an additional 1,943,411 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $83.42 on Tuesday. The firm has a 50-day moving average of $87.14 and a 200-day moving average of $62.23. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The company has a market cap of $190.03 billion, a price-to-earnings ratio of 439.08, a P/E/G ratio of 10.84 and a beta of 2.81.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Mizuho lifted their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Bank of America upped 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. Royal Bank of Canada increased their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Wedbush reiterated an “outperform” rating and set a $120.00 target price on shares of Palantir Technologies in a report on Monday. Finally, The Goldman Sachs Group increased their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $74.79.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now directly owns 100,923 shares in the company, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,439,783 shares of company stock worth $107,497,043. Insiders own 12.93% of the company’s stock.

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.