Northern Trust Corp Increases Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Northern Trust Corp increased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 20.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,488,465 shares of the company's stock after purchasing an additional 3,299,779 shares during the period. Northern Trust Corp owned 0.86% of Palantir Technologies worth $1,473,913,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Heritage Wealth Management Inc. CA grew its holdings in shares of Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after acquiring an additional 111 shares in the last quarter. Westover Capital Advisors LLC raised its position in shares of Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock valued at $554,000 after buying an additional 130 shares in the last quarter. Tritonpoint Wealth LLC raised its position in shares of Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company's stock valued at $537,000 after buying an additional 132 shares in the last quarter. Twin Peaks Wealth Advisors LLC raised its position in shares of Palantir Technologies by 2.2% in the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company's stock valued at $493,000 after buying an additional 139 shares in the last quarter. Finally, Truvestments Capital LLC lifted its stake in Palantir Technologies by 1.2% during the fourth quarter. Truvestments Capital LLC now owns 12,311 shares of the company's stock worth $931,000 after purchasing an additional 142 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Citigroup increased 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. Morgan Stanley cut their target price on Palantir Technologies from $95.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada boosted their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Finally, Jefferies Financial Group increased their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $74.71.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 98,177 shares of Palantir Technologies stock in a transaction on Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the sale, the insider now owns 403,171 shares of the company's stock, valued at $33,382,558.80. The trade was a 19.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now directly owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This trade represents 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 worth $253,328,090 in the last ninety days. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Trading Up 4.6 %

Shares of PLTR stock opened at $112.78 on Monday. The stock has a market cap of $264.51 billion, a price-to-earnings ratio of 593.61, a PEG ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a twelve month low of $20.50 and a twelve month high of $125.41. The company's 50-day moving average price is $89.34 and its 200-day moving average price is $77.35.

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.

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