Osterweis Capital Management Inc. Sells 7,028 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Osterweis Capital Management Inc. reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 36.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,492 shares of the company's stock after selling 7,028 shares during the quarter. Osterweis Capital Management Inc.'s holdings in Palantir Technologies were worth $945,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. M&T Bank Corp lifted its stake in shares of Palantir Technologies by 37.0% in the 3rd quarter. M&T Bank Corp now owns 170,043 shares of the company's stock valued at $6,326,000 after purchasing an additional 45,965 shares during the period. World Investment Advisors LLC bought a new stake in Palantir Technologies in the third quarter worth approximately $347,000. Wilmington Savings Fund Society FSB lifted its stake in Palantir Technologies by 48.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 17,538 shares of the company's stock valued at $652,000 after buying an additional 5,747 shares during the period. Synovus Financial Corp boosted its holdings in shares of Palantir Technologies by 85.9% during the 3rd quarter. Synovus Financial Corp now owns 17,898 shares of the company's stock worth $666,000 after buying an additional 8,270 shares in the last quarter. Finally, Tri Ri Asset Management Corp acquired a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $23,403,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Up 1.2 %

Shares of PLTR stock traded up $1.07 during trading on Friday, hitting $93.78. The company's stock had a trading volume of 83,698,348 shares, compared to its average volume of 72,726,928. The company has a market cap of $219.95 billion, a PE ratio of 493.60, a P/E/G ratio of 10.84 and a beta of 2.74. The business has a fifty day moving average of $91.18 and a 200-day moving average of $74.75. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now directly owns 512,006 shares of the company's stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the transaction, the director now directly owns 88,129 shares in the company, valued at $9,059,661.20. This represents a 11.80 % 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 valued at $253,328,090. Insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

PLTR has been the topic of several research analyst reports. Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Mizuho increased their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Northland Securities boosted their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research report on Tuesday, February 4th. UBS Group increased their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Finally, Morgan Stanley decreased their price objective on Palantir Technologies from $95.00 to $90.00 and set an "equal weight" rating for the company in a report on Wednesday. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $74.71.

About Palantir Technologies

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.