Ameriprise Financial Inc. Buys 107,159 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Ameriprise Financial Inc. boosted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,481,386 shares of the company's stock after purchasing an additional 107,159 shares during the period. Ameriprise Financial Inc. owned 0.11% of Palantir Technologies worth $187,666,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Geode Capital Management LLC raised its stake in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after buying an additional 3,907,022 shares during the period. Invesco Ltd. boosted its position in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors bought a new position in shares of Palantir Technologies in the 4th quarter worth about $253,816,000. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Loop Capital upped their target price on Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday. Wedbush set a $140.00 price objective on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday. William Blair set a $84.00 price target on shares of Palantir Technologies in a report on Wednesday, March 5th. Finally, Northland Securities upped their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $83.95.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR traded down $1.79 during midday trading on Friday, reaching $117.36. The company's stock had a trading volume of 80,786,187 shares, compared to its average volume of 75,877,287. The stock has a market capitalization of $275.25 billion, a P/E ratio of 617.72, a PEG ratio of 10.84 and a beta of 2.68. The firm has a 50 day moving average price of $94.23 and a 200-day moving average price of $81.99. Palantir Technologies Inc. has a 12-month low of $20.50 and a 12-month high of $125.41.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.13. The firm had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

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 value of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares in the company, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shyam Sankar sold 30,000 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the completion of the sale, the insider now directly owns 702,786 shares of the company's stock, valued at $64,958,509.98. This represents a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,978,181 shares of company stock worth $252,115,667 over the last three months. 9.23% of the stock is currently owned by insiders.

Palantir Technologies 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.