Canal Capital Management LLC Sells 3,765 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Canal Capital Management LLC trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 47.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,094 shares of the company's stock after selling 3,765 shares during the quarter. Canal Capital Management LLC's holdings in Palantir Technologies were worth $310,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. M&T Bank Corp lifted its stake in Palantir Technologies by 37.0% in the 3rd quarter. M&T Bank Corp now owns 170,043 shares of the company's stock worth $6,326,000 after purchasing an additional 45,965 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of Palantir Technologies during the 3rd quarter worth $347,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Palantir Technologies by 48.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 17,538 shares of the company's stock worth $652,000 after acquiring an additional 5,747 shares during the last quarter. Synovus Financial Corp grew its position in Palantir Technologies by 85.9% in the third quarter. Synovus Financial Corp now owns 17,898 shares of the company's stock worth $666,000 after acquiring an additional 8,270 shares in the last quarter. Finally, Tri Ri Asset Management Corp purchased a new stake in Palantir Technologies during the third quarter valued at about $23,403,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PLTR has been the topic of several recent research reports. Wedbush reiterated an "outperform" rating and set a $120.00 price objective on shares of Palantir Technologies in a research report on Monday, March 3rd. Robert W. Baird boosted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. DA Davidson reduced their target price on shares of Palantir Technologies from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Finally, Daiwa Capital Markets began coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $74.71.

Palantir Technologies Stock Up 7.4 %

Shares of NASDAQ:PLTR traded up $6.97 during trading on Wednesday, hitting $100.96. The stock had a trading volume of 112,369,656 shares, compared to its average volume of 73,447,232. Palantir Technologies Inc. has a 12 month low of $20.50 and a 12 month high of $125.41. The company has a market capitalization of $236.78 billion, a PE ratio of 531.37, a PEG ratio of 10.84 and a beta of 2.74. The firm's fifty day moving average is $89.81 and its 200 day moving average is $75.91.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $4,983,793.75. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 18,537 shares of Palantir Technologies stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $102.32, for a total value of $1,896,705.84. Following the completion of the sale, the insider now directly owns 493,469 shares of the company's stock, valued at approximately $50,491,748.08. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,989,975 shares of company stock worth $253,328,090. 12.93% of the stock is currently owned by company insiders.

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.