Rhumbline Advisers Has $304.29 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Rhumbline Advisers reduced its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 0.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,023,449 shares of the company’s stock after selling 11,080 shares during the quarter. Rhumbline Advisers’ holdings in Palantir Technologies were worth $304,293,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. First PREMIER Bank bought a new position in shares of Palantir Technologies in the 4th quarter worth $28,000. Wolff Wiese Magana LLC boosted its holdings in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the last quarter. R Squared Ltd bought a new position in Palantir Technologies during the fourth quarter worth about $33,000. Elevation Wealth Partners LLC grew its position in shares of Palantir Technologies by 64.3% during the 4th quarter. Elevation Wealth Partners LLC now owns 511 shares of the company’s stock worth $39,000 after buying an additional 200 shares during the period. Finally, Valley National Advisers Inc. raised its position in shares of Palantir Technologies by 181.3% in the 4th quarter. Valley National Advisers Inc. now owns 512 shares of the company’s stock valued at $38,000 after acquiring an additional 330 shares during the period. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Up 1.1 %

Palantir Technologies stock opened at $119.16 on Friday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $120.67. The stock has a market cap of $271.45 billion, a P/E ratio of 627.19, a P/E/G ratio of 11.44 and a beta of 2.81. The company’s 50-day moving average price is $81.90 and its two-hundred day moving average price is $56.35.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PLTR shares. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Bank of America upped their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald lifted their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $69.44.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 38,093 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $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 quarter, insiders have sold 9,346,976 shares of company stock worth $642,660,729. Company insiders own 12.93% of the company’s stock.

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.