Balboa Wealth Partners Sells 14,671 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Balboa Wealth Partners trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 19.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,210 shares of the company's stock after selling 14,671 shares during the quarter. Palantir Technologies makes up about 1.1% of Balboa Wealth Partners' portfolio, making the stock its 17th biggest holding. Balboa Wealth Partners' holdings in Palantir Technologies were worth $4,705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of PLTR. Prestige Wealth Management Group LLC lifted its position in shares of Palantir Technologies by 747.1% in 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 last quarter. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC lifted its position in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after buying an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC lifted its position in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after buying an additional 166 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Mizuho raised their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Baird R W raised Palantir Technologies to a "hold" rating in a report on Thursday, December 12th. Loop Capital initiated coverage on Palantir Technologies in a report on Thursday, February 20th. They set a "buy" rating and a $141.00 price target for the company. Finally, Bank of America lifted their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $75.25.

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Insider Activity

In related news, Director Alexandra W. Schiff sold 4,000 shares of the business's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 416,053 shares of the business's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the sale, the insider now owns 592 shares in the company, valued at $43,908.64. This represents a 99.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 985,838 shares of company stock worth $75,333,389. Insiders own 12.93% of the company's stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $83.65 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The business has a fifty day moving average price of $87.62 and a two-hundred day moving average price of $64.49. The stock has a market capitalization of $196.19 billion, a PE ratio of 440.29, a P/E/G ratio of 10.84 and a beta of 2.81.

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.

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