Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 406,582 shares of the company’s stock after selling 57,972 shares during the quarter. QRG Capital Management Inc.’s holdings in Palantir Technologies were worth $30,750,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. First Command Advisory Services Inc. acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $34,000. Proficio Capital Partners LLC acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $39,507,000. WT Wealth Management acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $251,000. Central Asset Investments & Management Holdings HK Ltd acquired a new position in Palantir Technologies in the fourth quarter valued at approximately $949,000. Finally, New York Life Investment Management LLC lifted its holdings in Palantir Technologies by 127.5% in the fourth quarter. New York Life Investment Management LLC now owns 275,020 shares of the company’s stock valued at $20,800,000 after acquiring an additional 154,139 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Heather A. Planishek sold 18,537 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $102.32, for a total transaction of $1,896,705.84. Following the transaction, the insider now owns 493,469 shares in the company, valued at $50,491,748.08. This trade represents a 3.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,719,783 shares of company stock worth $477,414,743. 12.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

PLTR has been the subject of a number of analyst reports. Cantor Fitzgerald boosted their price target on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. DA Davidson upped their target price on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Loop Capital started coverage on Palantir Technologies in a research note on Thursday, February 20th. They set a “buy” rating and a $141.00 target price for the company. Bank of America upped 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. Finally, The Goldman Sachs Group upped their target price 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 four have given a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $73.21.

Palantir Technologies Stock Up 1.7 %

Shares of NASDAQ:PLTR opened at $89.31 on Thursday. The business has a fifty day moving average of $86.79 and a two-hundred day moving average of $60.88. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The stock has a market cap of $203.45 billion, a P/E ratio of 470.08, a PEG ratio of 10.84 and a beta of 2.81.

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.