Russell Investments Group Ltd. Has $53.49 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Russell Investments Group Ltd. lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 20.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 706,487 shares of the company’s stock after purchasing an additional 121,312 shares during the period. Russell Investments Group Ltd.’s holdings in Palantir Technologies were worth $53,494,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Hurley Capital LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $49,000. Envestnet Asset Management Inc. lifted its stake in shares of Palantir Technologies by 30.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 592,412 shares of the company’s stock worth $44,804,000 after acquiring an additional 137,604 shares during the period. Wedbush Securities Inc. boosted its holdings in Palantir Technologies by 3.0% in the fourth quarter. Wedbush Securities Inc. now owns 176,582 shares of the company’s stock valued at $13,355,000 after acquiring an additional 5,074 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Palantir Technologies during the 4th quarter valued at approximately $3,782,000. Finally, Resona Asset Management Co. Ltd. bought a new position in Palantir Technologies during the 4th quarter worth approximately $44,331,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Down 11.5 %

Palantir Technologies stock opened at $74.01 on Monday. The business’s 50 day simple moving average is $92.67 and its 200 day simple moving average is $71.18. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The company has a market cap of $173.58 billion, a price-to-earnings ratio of 389.55, a PEG ratio of 10.84 and a beta of 2.74.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Mizuho upped their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. UBS Group upped their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. DA Davidson lifted their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald upped their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Daiwa America upgraded Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $75.19.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now owns 512,006 shares in the company, valued at $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,993,175 shares of company stock worth $253,549,610 over the last ninety days. 12.93% of the stock is currently owned by company insiders.

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.