Allspring Global Investments Holdings LLC Has $13.42 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Allspring Global Investments Holdings LLC increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 46.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 178,499 shares of the company’s stock after purchasing an additional 56,299 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Palantir Technologies were worth $13,421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies in the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC raised its holdings in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the last quarter. First PREMIER Bank bought a new position in Palantir Technologies in the 4th quarter worth $28,000. Wolff Wiese Magana LLC raised its holdings in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Palantir Technologies in the 4th quarter worth about $33,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

PLTR stock opened at $119.16 on Tuesday. The business has a 50-day moving average price of $82.84 and a 200 day moving average price of $57.43. The company has a market capitalization of $271.45 billion, a P/E ratio of 627.19, a PEG ratio of 11.44 and a beta of 2.81. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $120.67.

Insiders Place Their Bets

In related news, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Karp sold 38,093 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $63.01, for a total value of $2,400,239.93. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $405,296,576.58. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,339,480 shares of company stock worth $578,221,285. 12.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Royal Bank of Canada increased their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Citigroup lifted their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. DA Davidson raised their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Profile

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.