Archon Partners LLC Has $15.81 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Archon Partners LLC cut its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 209,000 shares of the company's stock after selling 50,000 shares during the period. Palantir Technologies comprises about 1.8% of Archon Partners LLC's portfolio, making the stock its 22nd largest position. Archon Partners LLC's holdings in Palantir Technologies were worth $15,807,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Mather Group LLC. increased its position in shares of Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after acquiring an additional 448 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in Palantir Technologies in the 4th quarter worth $876,000. Destiny Wealth Partners LLC bought a new position in Palantir Technologies during the 4th quarter worth about $3,233,000. Kieckhefer Group LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at approximately $11,769,000. Finally, Grange Capital LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $5,829,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Price Performance

PLTR stock traded up $5.00 during midday trading on Friday, reaching $112.78. 103,457,514 shares of the stock were exchanged, compared to its average volume of 73,841,174. The stock has a market capitalization of $264.51 billion, a PE ratio of 593.61, a P/E/G ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a 52 week low of $20.50 and a 52 week high of $125.41. The company has a fifty day moving average price of $89.58 and a 200 day moving average price of $76.39.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 592 shares of the company's stock, valued at $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,989,975 shares of company stock worth $253,328,090. Insiders own 12.93% of the company's stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of several analyst reports. William Blair set a $84.00 price target on shares of Palantir Technologies in a research report on Wednesday, March 5th. Bank of America lifted their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Mizuho boosted their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. UBS Group upped their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Finally, Loop Capital reaffirmed a "buy" rating on shares of Palantir Technologies in a research note on Friday, April 4th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $74.71.

Palantir Technologies Profile

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.