Thoroughbred Financial Services LLC Trims Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Thoroughbred Financial Services LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,090 shares of the company’s stock after selling 872 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Palantir Technologies were worth $687,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Heritage Wealth Management Inc. CA boosted its position in shares of Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after acquiring an additional 111 shares during the last quarter. Westover Capital Advisors LLC boosted its holdings in Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after purchasing an additional 130 shares in the last quarter. Tritonpoint Wealth LLC boosted 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 period. Twin Peaks Wealth Advisors LLC grew its holdings in shares of Palantir Technologies by 2.2% during the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock worth $493,000 after buying an additional 139 shares during the last quarter. Finally, Truvestments Capital LLC boosted its holdings in shares of Palantir Technologies by 1.2% in the fourth quarter. Truvestments Capital LLC now owns 12,311 shares of the company’s stock valued at $931,000 after acquiring an additional 142 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLTR. Citigroup raised their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. 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 report on Tuesday, February 4th. UBS Group lifted their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird upped their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.19.

Insiders Place Their Bets

In other news, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s 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 completion of the sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,993,175 shares of company stock valued at $253,549,610 over the last 90 days. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Trading Down 11.5 %

Shares of PLTR opened at $74.01 on Friday. The company’s fifty day simple moving average is $92.67 and its 200 day simple moving average is $70.93. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The company has a market cap of $173.58 billion, a price-to-earnings ratio of 389.55, a PEG ratio of 10.84 and a beta of 2.74.

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.