Wellington Management Group LLP Boosts Stake in Palantir Technologies Inc. (NYSE:PLTR)

Wellington Management Group LLP grew its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 3,106.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 775,208 shares of the company’s stock after acquiring an additional 751,034 shares during the period. Wellington Management Group LLP’s holdings in Palantir Technologies were worth $28,838,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after acquiring an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after acquiring an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management raised its position in Palantir Technologies by 97.9% during the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after acquiring an additional 99,921 shares during the last quarter. Finally, Boston Family Office LLC raised its position in shares of Palantir Technologies by 48.0% during the 3rd quarter. Boston Family Office LLC now owns 37,000 shares of the company’s stock worth $1,376,000 after purchasing an additional 12,000 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 123,334 shares of Palantir Technologies stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the sale, the insider now directly owns 331,369 shares of the company’s stock, valued at $14,911,605. This trade represents a 27.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $50,128,019.74. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,252,313 shares of company stock valued at $1,967,089,241 over the last three months. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

PLTR opened at $73.20 on Friday. The stock’s fifty day moving average is $55.02 and its 200-day moving average is $38.01. The company has a market capitalization of $166.75 billion, a PE ratio of 366.00, a P/E/G ratio of 10.29 and a beta of 2.87. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $80.91.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PLTR. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 4th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wedbush upped their target price on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Finally, Bank of America raised their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.93.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.