Qtron Investments LLC lowered its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 38.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,722 shares of the company's stock after selling 4,116 shares during the quarter. Qtron Investments LLC's holdings in Palantir Technologies were worth $508,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mather Group LLC. lifted its position in Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after buying an additional 448 shares during the last quarter. Diversify Wealth Management LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth about $876,000. Destiny Wealth Partners LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth about $3,233,000. Coldstream Capital Management Inc. purchased a new position in shares of Palantir Technologies during the 3rd quarter worth about $639,000. Finally, Kieckhefer Group LLC bought a new position in Palantir Technologies during the 4th quarter valued at about $11,769,000. 45.65% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on PLTR shares. Mizuho boosted their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. Morgan Stanley upgraded Palantir Technologies from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Daiwa America upgraded Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. William Blair set a $84.00 target price on shares of Palantir Technologies in a research note on Wednesday, March 5th. Finally, Bank of America raised their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $74.95.
Check Out Our Latest Report on Palantir Technologies
Insider Activity
In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company's stock, valued at $48,988. This trade represents a 99.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the transaction, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. This represents a 19.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,989,975 shares of company stock worth $253,328,090. Corporate insiders own 12.93% of the company's stock.
Palantir Technologies Stock Performance
PLTR traded up $5.78 on Tuesday, hitting $98.40. The company had a trading volume of 117,035,424 shares, compared to its average volume of 72,009,046. The stock has a market capitalization of $230.78 billion, a price-to-earnings ratio of 517.92, a P/E/G ratio of 10.84 and a beta of 2.74. The stock has a fifty day moving average price of $92.63 and a 200-day moving average price of $73.66. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41.
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.
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