Axa S.A. Acquires 388,107 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)
Axa S.A. increased its stake in Palantir Technologies Inc. by 428.5% in Q4, acquiring 388,107 shares, bringing its total to 478,677 shares valued at $36.2 million. Other investors also adjusted their positions in Palantir. Analysts have mixed ratings on the stock, with a consensus price target of $74.71. Palantir's shares opened at $124.28, with a market cap of $291.48 billion. Recent insider transactions show significant sales by directors, indicating a decrease in their holdings.
Axa S.A. lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 428.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 478,677 shares of the company's stock after purchasing an additional 388,107 shares during the quarter. Axa S.A.'s holdings in Palantir Technologies were worth $36,202,000 as of its most recent SEC filing.
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Several other large investors have also added to or reduced their stakes in the business. AlTi Global Inc. acquired a new stake in Palantir Technologies in the 4th quarter valued at $2,097,000. 360 Financial Inc. bought a new position in shares of Palantir Technologies in the 4th quarter valued at about $378,000. Meiji Yasuda Life Insurance Co acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $1,038,000. Blue Rock Wealth Management LLC bought a new stake in Palantir Technologies during the fourth quarter worth about $1,675,000. Finally, Itau Unibanco Holding S.A. boosted its position in Palantir Technologies by 500.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,993 shares of the company's stock valued at $151,000 after purchasing an additional 1,661 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.
Wall Street Analyst Weigh In
PLTR has been the topic of several recent analyst reports. Citigroup boosted their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Mizuho boosted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Royal Bank of Canada reissued an "underperform" rating and issued a $40.00 price objective on shares of Palantir Technologies in a research report on Tuesday, April 29th. Northland Securities upped their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a report on Tuesday, February 4th. Finally, Robert W. Baird lifted their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $74.71.
- Palantir Earnings: 1 Bullish Signal and 1 Area of Concern
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Palantir Technologies Price Performance
Shares of NASDAQ:PLTR opened at $124.28 on Friday. The business's 50 day simple moving average is $91.17 and its 200 day simple moving average is $79.72. Palantir Technologies Inc. has a 1 year low of $20.50 and a 1 year high of $125.41. The company has a market capitalization of $291.48 billion, a P/E ratio of 654.14, a P/E/G ratio of 10.84 and a beta of 2.74.
Insider Transactions at Palantir Technologies
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In other news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the transaction, the director now owns 184,617 shares in the company, valued at approximately $15,993,370.71. This trade represents a 3.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now 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. In the last three months, insiders have sold 2,989,975 shares of company stock valued at $253,328,090. 12.93% of the stock is owned by corporate insiders.
About Palantir Technologies
(Free Report)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.
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