Emerald Advisers LLC Sells 12,130 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Emerald Advisers LLC cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 59.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,366 shares of the company's stock after selling 12,130 shares during the period. Emerald Advisers LLC's holdings in Palantir Technologies were worth $633,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its holdings in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company's stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC grew 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 valued at $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. Lord Abbett & CO. LLC raised 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 buying an additional 2,984,348 shares during the period. Amundi lifted its position in Palantir Technologies by 62.7% during the 4th quarter. Amundi now owns 6,804,915 shares of the company's stock worth $514,656,000 after acquiring an additional 2,623,524 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Palantir Technologies by 226.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company's stock worth $105,636,000 after acquiring an additional 1,969,213 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley raised shares of Palantir Technologies from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Loop Capital lowered their price objective on Palantir Technologies from $141.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Citigroup upped their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, February 5th. UBS Group raised their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Finally, Bank of America raised their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of "Hold" and an average target price of $74.45.

Insider Activity

In other news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now owns 512,006 shares of the company's stock, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the company's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares of the company's stock, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded down $2.19 during mid-day trading on Thursday, reaching $90.09. The company had a trading volume of 82,518,616 shares, compared to its average volume of 66,664,182. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The stock's 50 day moving average is $91.28 and its 200-day moving average is $68.54. The stock has a market capitalization of $211.29 billion, a PE ratio of 474.18, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

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.