PFG Advisors Trims Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

PFG Advisors trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 40.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,424 shares of the company's stock after selling 12,318 shares during the period. PFG Advisors' holdings in Palantir Technologies were worth $1,393,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $28,000. Wolff Wiese Magana LLC grew its stake in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after acquiring an additional 265 shares during the last quarter. HighMark Wealth Management LLC grew its stake in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after acquiring an additional 166 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $31,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

PLTR stock opened at $79.62 on Friday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The business's 50-day moving average is $87.71 and its two-hundred day moving average is $64.59. The company has a market cap of $186.74 billion, a price-to-earnings ratio of 419.07, a P/E/G ratio of 10.84 and a beta of 2.81.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 13,891 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares of the company's stock, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the transaction, the insider now directly owns 170,273 shares in the company, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 569,785 shares of company stock valued at $44,474,738. 12.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent research reports. Bank of America increased their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Citigroup increased their target price on Palantir Technologies from $42.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Loop Capital cut their target price on Palantir Technologies from $141.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday. Jefferies Financial Group increased their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. Finally, Baird R W raised Palantir Technologies to a "hold" rating in a research report on Thursday, December 12th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $74.45.

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Palantir Technologies Company 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.

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