NewEdge Advisors LLC Raises Position in Palantir Technologies Inc. (NASDAQ:PLTR)

NewEdge Advisors LLC increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 623,721 shares of the company's stock after acquiring an additional 17,622 shares during the quarter. NewEdge Advisors LLC's holdings in Palantir Technologies were worth $45,704,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Roxbury Financial LLC acquired a new position in Palantir Technologies during the fourth quarter worth $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $28,000. Wolff Wiese Magana LLC lifted its holdings in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. HighMark Wealth Management LLC boosted its position in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after buying an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC bought a new stake in Palantir Technologies during the fourth quarter worth about $31,000. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded up $1.07 on Friday, reaching $93.78. 83,698,348 shares of the company's stock were exchanged, compared to its average volume of 72,859,837. The firm's 50-day moving average is $91.18 and its two-hundred day moving average is $75.01. The company has a market capitalization of $219.95 billion, a P/E ratio of 493.60, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a 52 week low of $20.36 and a 52 week high of $125.41.

Insider Buying and Selling

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 transaction of $1,610,800.36. Following the transaction, the insider now directly owns 512,006 shares of the company's stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. The trade was a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock valued at $253,328,090 over the last ninety days. 12.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research analyst reports. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. UBS Group lifted their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Wedbush restated an "outperform" rating and set a $120.00 target price on shares of Palantir Technologies in a report on Monday, March 3rd. DA Davidson cut their price target on Palantir Technologies from $105.00 to $100.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Morgan Stanley decreased their price objective on shares of Palantir Technologies from $95.00 to $90.00 and set an "equal weight" rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $74.71.

Palantir Technologies Company 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.