Trifecta Capital Advisors LLC Decreases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Trifecta Capital Advisors LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 0.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,044 shares of the company’s stock after selling 271 shares during the quarter. Palantir Technologies comprises about 1.6% of Trifecta Capital Advisors LLC’s portfolio, making the stock its 17th largest holding. Trifecta Capital Advisors LLC’s holdings in Palantir Technologies were worth $8,323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tritonpoint Wealth LLC raised its position in shares of Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after purchasing an additional 132 shares during the last quarter. Kennebec Savings Bank increased its holdings in Palantir Technologies by 29.5% in the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after buying an additional 159 shares during the period. HighMark Wealth Management LLC increased its holdings in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the period. RMR Wealth Builders increased its holdings in Palantir Technologies by 2.4% in the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after buying an additional 167 shares during the period. Finally, Bay Rivers Group increased its holdings in Palantir Technologies by 2.7% in the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after buying an additional 171 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $90.68 on Tuesday. The company’s fifty day moving average price is $86.17 and its 200 day moving average price is $60.27. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The stock has a market capitalization of $206.57 billion, a P/E ratio of 477.29, a P/E/G ratio of 10.84 and a beta of 2.81.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. UBS Group increased their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, Robert W. Baird increased their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.21.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the completion of the sale, the insider now directly owns 702,786 shares in the company, valued at $64,958,509.98. This represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,719,783 shares of company stock valued at $477,414,743. 12.93% of the stock is owned by company insiders.

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.