Renaissance Technologies LLC Sells 15,629,431 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Renaissance Technologies LLC lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 40.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 22,789,809 shares of the company's stock after selling 15,629,431 shares during the period. Palantir Technologies accounts for approximately 2.6% of Renaissance Technologies LLC's portfolio, making the stock its biggest holding. Renaissance Technologies LLC owned approximately 1.00% of Palantir Technologies worth $1,723,596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Roxbury Financial LLC purchased a new position in Palantir Technologies during the fourth quarter worth approximately $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $28,000. Wolff Wiese Magana LLC raised its holdings 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 acquiring an additional 265 shares during the period. HighMark Wealth Management LLC boosted its position in shares of 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 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 valued at about $31,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Trading Down 0.0 %

NASDAQ:PLTR traded down $0.04 during midday trading on Friday, reaching $88.55. The company had a trading volume of 94,976,307 shares, compared to its average volume of 71,346,431. The stock's fifty day simple moving average is $92.81 and its 200-day simple moving average is $73.02. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The firm has a market capitalization of $207.68 billion, a price-to-earnings ratio of 466.08, a PEG ratio of 10.84 and a beta of 2.74.

Wall Street Analyst Weigh In

A number of brokerages have commented on PLTR. Mizuho lifted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an "underperform" rating in a research note on Tuesday, February 4th. Northland Securities upped their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a report on Tuesday, February 4th. UBS Group increased their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. DA Davidson lifted their target price on Palantir Technologies from $47.00 to $105.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Finally, Wedbush reiterated an "outperform" rating and set a $120.00 price target on shares of Palantir Technologies in a report on Monday, March 3rd. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $75.19.

Insider Activity

In other Palantir Technologies news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the sale, the director now directly owns 184,617 shares of the company's stock, valued at $15,993,370.71. The trade was a 3.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the completion of the transaction, the director now owns 88,129 shares in the company, valued at approximately $9,059,661.20. The trade was a 11.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,989,975 shares of company stock worth $253,328,090. 12.93% of the stock is currently owned by company insiders.

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.