Federated Hermes Inc. Purchases 524,438 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Federated Hermes Inc. lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 24.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,679,035 shares of the company’s stock after acquiring an additional 524,438 shares during the period. Federated Hermes Inc. owned approximately 0.12% of Palantir Technologies worth $202,994,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in shares of Palantir Technologies by 170.0% in the 3rd quarter. Janus Henderson Group PLC now owns 373,534 shares of the company’s stock worth $13,897,000 after purchasing an additional 235,168 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Palantir Technologies in the 3rd quarter worth about $280,000. Quantinno Capital Management LP raised its position in Palantir Technologies by 335.0% in the 3rd quarter. Quantinno Capital Management LP now owns 115,698 shares of the company’s stock worth $4,304,000 after buying an additional 89,098 shares during the last quarter. Stifel Financial Corp lifted its stake in Palantir Technologies by 1.9% during the 3rd quarter. Stifel Financial Corp now owns 948,470 shares of the company’s stock valued at $35,283,000 after acquiring an additional 17,561 shares during the period. Finally, Wellington Management Group LLP boosted its holdings 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 valued at $28,838,000 after acquiring an additional 751,034 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan D. Taylor sold 98,177 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the sale, the insider now owns 403,171 shares in the company, valued at approximately $33,382,558.80. The trade was a 19.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,993,175 shares of company stock valued at $253,549,610. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Down 11.5 %

Shares of Palantir Technologies stock opened at $74.01 on Friday. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The stock’s 50-day simple moving average is $92.67 and its 200-day simple moving average is $70.93. The company has a market capitalization of $173.58 billion, a price-to-earnings ratio of 389.55, a PEG ratio of 10.84 and a beta of 2.74.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PLTR shares. William Blair set a $84.00 price objective on shares of Palantir Technologies in a report on Wednesday, March 5th. UBS Group increased their price target on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Royal Bank of Canada raised their price target on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Mizuho upped their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Finally, Wedbush restated an “outperform” rating and set a $120.00 price target on shares of Palantir Technologies in a research note on Monday, March 3rd. 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $75.19.

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.