Optimum Investment Advisors trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,502 shares of the company's stock after selling 2,900 shares during the period. Optimum Investment Advisors' holdings in Palantir Technologies were worth $1,399,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in PLTR. Guardian Partners Inc. bought a new stake in Palantir Technologies during the 4th quarter valued at about $2,212,000. Fortis Capital Management LLC increased its position in shares of Palantir Technologies by 38.5% during the fourth quarter. Fortis Capital Management LLC now owns 12,773 shares of the company's stock valued at $966,000 after acquiring an additional 3,551 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $52,033,000. AXQ Capital LP purchased a new position in Palantir Technologies in the 4th quarter worth approximately $353,000. Finally, Marietta Investment Partners LLC lifted its position in Palantir Technologies by 83.8% in the 4th quarter. Marietta Investment Partners LLC now owns 76,847 shares of the company's stock valued at $5,812,000 after acquiring an additional 35,039 shares in the last quarter. 45.65% of the stock is owned by institutional investors.
Palantir Technologies Stock Down 4.4 %
NASDAQ:PLTR traded down $4.22 during mid-day trading on Wednesday, hitting $92.28. 81,394,443 shares of the company traded hands, compared to its average volume of 66,465,998. The stock's fifty day moving average price is $90.80 and its 200-day moving average price is $68.37. The firm has a market cap of $216.43 billion, a price-to-earnings ratio of 485.71, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41.
Analyst Upgrades and Downgrades
A number of analysts have commented on the company. Cantor Fitzgerald lifted their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Wedbush reiterated an "outperform" rating and issued a $120.00 price objective on shares of Palantir Technologies in a report on Monday, March 3rd. Royal Bank of Canada boosted their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Loop Capital dropped their price target on shares of Palantir Technologies from $141.00 to $125.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Finally, Robert W. Baird lifted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $74.45.
Read Our Latest Stock Analysis on Palantir Technologies
Insider Activity
In other Palantir Technologies news, insider Ryan D. Taylor sold 483,987 shares of Palantir Technologies stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the transaction, the insider now owns 170,273 shares of the company's stock, valued at $12,681,933.04. The trade was a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction on 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 transaction, the insider now owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,379,785 shares of company stock valued at $281,528,938 in the last ninety days. Corporate insiders own 12.93% of the company's stock.
Palantir Technologies Company Profile
(
Free Report)
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.
See Also
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