Fernwood Investment Management LLC Has $761,000 Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Fernwood Investment Management LLC lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,065 shares of the company’s stock after selling 1,110 shares during the period. Fernwood Investment Management LLC’s holdings in Palantir Technologies were worth $761,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Palantir Technologies in the fourth quarter valued at about $1,360,191,000. Geode Capital Management LLC raised its position in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of 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. grew 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 worth $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Palantir Technologies during the 4th quarter worth $240,236,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

PLTR opened at $77.32 on Wednesday. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The company has a market capitalization of $181.34 billion, a price-to-earnings ratio of 406.97, a P/E/G ratio of 10.84 and a beta of 2.74. The firm’s fifty day moving average price is $92.61 and its two-hundred day moving average price is $71.79.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. DA Davidson increased their target price on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Wedbush reissued an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. William Blair set a $84.00 price objective on Palantir Technologies in a research report on Wednesday, March 5th. Royal Bank of Canada lifted their target price on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. 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 report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus target price of $75.19.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,989,975 shares of company stock worth $253,328,090 in the last 90 days. Insiders own 12.93% of the company’s stock.

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.