United Bank Purchases New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

United Bank acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 3,435 shares of the company’s stock, valued at approximately $260,000.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Norges Bank bought a new position in Palantir Technologies in the 4th quarter worth $1,360,191,000. Geode Capital Management LLC increased its stake in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Palantir Technologies during the 4th quarter valued at approximately $240,236,000. Finally, Lord Abbett & CO. LLC boosted 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 during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent research reports. Citigroup upped their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Northland Securities lifted their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Bank of America increased their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Royal Bank of Canada upped their price target on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, UBS Group lifted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $74.45.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the business’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 owns 512,006 shares of the company’s stock, valued at $59,372,215.76. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,379,785 shares of company stock worth $281,528,938. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Trading Down 4.7 %

Shares of PLTR opened at $85.85 on Friday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The stock has a market capitalization of $201.35 billion, a P/E ratio of 451.87, a P/E/G ratio of 10.84 and a beta of 2.81. The business’s 50-day moving average price is $91.98 and its 200 day moving average price is $69.28.

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.