SevenBridge Financial Group LLC Lowers Position in Palantir Technologies Inc. (NASDAQ:PLTR)

SevenBridge Financial Group LLC lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 9.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 27,220 shares of the company’s stock after selling 2,753 shares during the period. SevenBridge Financial Group LLC’s holdings in Palantir Technologies were worth $2,059,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLTR. State Street Corp raised its position in shares of Palantir Technologies by 96.4% during 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 during the period. Norges Bank bought a new stake in Palantir Technologies during the 4th quarter valued at approximately $1,360,191,000. Geode Capital Management LLC boosted its stake in Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares during the period. Wellington Management Group LLP boosted its position in shares of Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock worth $354,117,000 after acquiring an additional 3,907,022 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Palantir Technologies during the fourth quarter worth $240,236,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research analyst reports. Northland Securities boosted their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. DA Davidson increased their price target on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group lifted their price objective on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $75.19.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 310,000 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at $51,545.44. The trade was a 99.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Up 0.3 %

NASDAQ PLTR opened at $84.68 on Wednesday. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The company has a 50 day moving average price of $92.47 and a 200 day moving average price of $70.22. The firm has a market cap of $198.60 billion, a PE ratio of 445.71, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

About Palantir Technologies

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.