Longitude Cayman Ltd. Cuts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Longitude Cayman Ltd. lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 68.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,000 shares of the company’s stock after selling 195,125 shares during the period. Palantir Technologies comprises approximately 1.5% of Longitude Cayman Ltd.’s holdings, making the stock its 17th largest holding. Longitude Cayman Ltd.’s holdings in Palantir Technologies were worth $6,958,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC grew its stake in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after purchasing an additional 808,444 shares during the last quarter. FMR LLC grew its stake in Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after purchasing an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 5.2 %

Shares of NASDAQ:PLTR opened at $116.65 on Tuesday. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $116.76. The company has a market capitalization of $265.73 billion, a PE ratio of 613.98, a PEG ratio of 11.44 and a beta of 2.81. The business has a 50 day moving average of $77.34 and a two-hundred day moving average of $53.60.

Analyst Ratings Changes

Several equities analysts have issued reports on PLTR shares. Bank of America lifted their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Jefferies Financial Group boosted their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $69.44.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 1,823,602 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total value of $115,105,758.24. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $406,004,124.96. The trade was a 22.09 % 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 Lauren Elaina Friedman Stat sold 11,794 shares of the business’s stock in a transaction that occurred on 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 directly owns 88,129 shares of the company’s stock, valued at $9,059,661.20. The trade was a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,656,687 shares of company stock valued at $1,040,105,687. 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.