Newbridge Financial Services Group Inc. Sells 4,258 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Newbridge Financial Services Group Inc. decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,684 shares of the company’s stock after selling 4,258 shares during the period. Palantir Technologies accounts for about 1.6% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 13th biggest position. Newbridge Financial Services Group Inc.’s holdings in Palantir Technologies were worth $6,102,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the 3rd quarter worth about $25,000. Prestige Wealth Management Group LLC boosted its position in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the period. First PREMIER Bank bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $28,000. Wolff Wiese Magana LLC lifted its stake in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Palantir Technologies during the 4th quarter valued at about $33,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $110.85 on Friday. The firm has a 50-day simple moving average of $77.34 and a two-hundred day simple moving average of $53.42. The firm has a market cap of $252.52 billion, a P/E ratio of 583.45, a P/E/G ratio of 11.44 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $116.30.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PLTR. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Robert W. Baird boosted their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Bank of America increased their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, UBS Group upped their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $69.44.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total value of $1,212,423.20. Following the transaction, the director now directly owns 88,129 shares in the company, valued at $9,059,661.20. This trade represents a 11.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated 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 directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,656,687 shares of company stock worth $1,040,105,687 over the last quarter. 12.93% of the stock is currently owned by insiders.

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.