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

Sequoia Financial Advisors LLC trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 281,728 shares of the company's stock after selling 8,478 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Palantir Technologies were worth $21,307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PLTR. State Street Corp raised its holdings in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company's stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock worth $460,798,000 after buying an additional 4,667,955 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company's stock valued at $122,788,000 after buying an additional 2,984,348 shares in the last quarter. Finally, Amundi grew its holdings in Palantir Technologies by 62.7% during the fourth quarter. Amundi now owns 6,804,915 shares of the company's stock worth $514,656,000 after acquiring an additional 2,623,524 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PLTR shares. Cantor Fitzgerald upped their price target 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. Loop Capital began coverage on Palantir Technologies in a report on Thursday, February 20th. They issued a "buy" rating and a $141.00 target price on the stock. Robert W. Baird boosted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Citigroup raised their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada boosted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $75.25.

Remove Ads

Palantir Technologies Stock Up 2.2 %

NASDAQ PLTR opened at $78.05 on Wednesday. The stock has a market capitalization of $183.06 billion, a PE ratio of 410.81, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The company has a 50 day moving average price of $87.46 and a two-hundred day moving average price of $64.35.

Insider Activity at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now owns 195,393 shares of the company's stock, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the sale, the insider now directly owns 170,273 shares of the company's stock, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 985,838 shares of company stock valued at $75,333,389. Insiders own 12.93% of the company's stock.

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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.