Newbridge Financial Services Group Inc. Sells 4,258 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Newbridge Financial Services Group Inc. lowered its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,684 shares of the company’s stock after selling 4,258 shares during the quarter. Palantir Technologies makes up 1.6% of Newbridge Financial Services Group Inc.’s portfolio, making the stock its 13th biggest holding. Newbridge Financial Services Group Inc.’s holdings in Palantir Technologies were worth $6,102,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PLTR. State Street Corp boosted its position 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 worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after purchasing an additional 808,444 shares in the last quarter. FMR LLC lifted its position in shares of Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after buying an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 60.5% during 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 buying an additional 4,667,955 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of PLTR opened at $110.85 on Friday. The company has a 50 day moving average price of $77.34 and a 200-day moving average price of $53.42. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $116.30. The stock has a market capitalization of $252.52 billion, a PE ratio of 583.45, a PEG ratio of 11.44 and a beta of 2.81.

Analysts Set New Price Targets

A number of research firms have recently commented on PLTR. Jefferies Financial Group increased their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. UBS Group increased their price target on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Royal Bank of Canada lifted their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Finally, DA Davidson increased their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $69.44.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $405,875,479.80. This represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of Palantir Technologies stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the transaction, the director now directly owns 88,129 shares in the company, valued at $9,059,661.20. This represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,656,687 shares of company stock worth $1,040,105,687 over the last 90 days. Company insiders own 12.93% of the company’s stock.

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.