abrdn plc Has $11.33 Million Stake in Palantir Technologies Inc. (NYSE:PLTR)

abrdn plc grew its position in Palantir Technologies Inc. (NYSE:PLTR) by 104.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 659,660 shares of the company’s stock after purchasing an additional 336,360 shares during the quarter. abrdn plc’s holdings in Palantir Technologies were worth $11,326,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Palantir Technologies by 11.1% during the third quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock worth $2,997,419,000 after buying an additional 18,756,392 shares in the last quarter. Morgan Stanley grew its position in Palantir Technologies by 26.1% during the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after buying an additional 4,675,824 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Palantir Technologies by 8.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,590,729 shares of the company’s stock worth $216,183,000 after buying an additional 955,992 shares in the last quarter. Northern Trust Corp grew its position in Palantir Technologies by 5.5% during the third quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock worth $183,979,000 after buying an additional 601,012 shares in the last quarter. Finally, ARK Investment Management LLC grew its position in Palantir Technologies by 16.1% during the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after buying an additional 1,514,232 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $21.71 on Friday. Palantir Technologies Inc. has a 52 week low of $7.28 and a 52 week high of $27.50. The stock has a market capitalization of $48.04 billion, a price-to-earnings ratio of 241.25, a PEG ratio of 5.29 and a beta of 2.78. The stock has a fifty day moving average of $23.49 and a 200-day moving average of $20.01.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The firm had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLTR. Raymond James increased their price target on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Mizuho raised their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and raised their target price for the company from $10.00 to $20.00 in a report on Tuesday, February 6th. Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and raised their target price for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Finally, Bank of America raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.35.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares of the company’s stock, valued at approximately $3,992,120. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Ryan D. Taylor sold 150,000 shares of Palantir Technologies stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $24.00, for a total value of $3,600,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares of the company’s stock, valued at approximately $4,355,040. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares of the company’s stock, valued at $3,992,120. The disclosure for this sale can be found here. Insiders sold a total of 7,456,273 shares of company stock valued at $184,343,202 in the last three months. Insiders own 13.96% of the company’s stock.

About Palantir Technologies

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.