Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by 1776 Wealth LLC

1776 Wealth LLC trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 17.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 167,054 shares of the company’s stock after selling 35,447 shares during the period. Palantir Technologies comprises approximately 5.4% of 1776 Wealth LLC’s portfolio, making the stock its 4th largest holding. 1776 Wealth LLC’s holdings in Palantir Technologies were worth $12,634,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC increased its position in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC increased its stake in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC increased its stake in shares of Palantir Technologies by 73.5% in 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. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the sale, the insider now directly owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. This trade represents a 4.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 985,838 shares of company stock valued at $75,333,389. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLTR. Robert W. Baird upped their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Royal Bank of Canada upped their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Mizuho upped their price target on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. DA Davidson boosted their price objective 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, Northland Securities boosted their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $75.25.

Palantir Technologies Stock Up 7.2 %

NASDAQ:PLTR opened at $83.65 on Thursday. The stock’s 50-day simple moving average is $87.62 and its 200 day simple moving average is $64.49. The firm has a market capitalization of $196.19 billion, a PE ratio of 440.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41.

Palantir Technologies Company 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.