Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by LM Advisors LLC

LM Advisors LLC cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 31.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,958 shares of the company's stock after selling 13,276 shares during the quarter. LM Advisors LLC's holdings in Palantir Technologies were worth $2,190,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Prestige Wealth Management Group LLC lifted its position in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company's stock valued at $27,000 after acquiring an additional 650 shares during the period. Roxbury Financial LLC acquired a new position in Palantir Technologies during the fourth quarter worth $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its position in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after purchasing an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC grew its holdings in Palantir Technologies by 73.5% during the 4th 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 owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded down $4.24 during midday trading on Friday, hitting $85.85. 90,823,164 shares of the company's stock traded hands, compared to its average volume of 67,978,339. The firm's fifty day moving average price is $91.98 and its two-hundred day moving average price is $69.28. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The company has a market cap of $201.35 billion, a PE ratio of 451.87, a P/E/G ratio of 10.84 and a beta of 2.81.

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Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now directly owns 62,139 shares of the company's stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 310,000 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the sale, the insider now directly owns 592 shares of the company's stock, valued at approximately $51,545.44. The trade was a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,379,785 shares of company stock worth $281,528,938 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PLTR shares. Morgan Stanley raised Palantir Technologies from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Jefferies Financial Group lifted their price target 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. DA Davidson raised their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Finally, UBS Group boosted their price target on Palantir Technologies from $80.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $74.45.

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.