Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 25.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,303 shares of the company’s stock after selling 4,967 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Palantir Technologies were worth $1,082,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PLTR. Norges Bank purchased a new position in shares of Palantir Technologies in the fourth quarter worth approximately $1,360,191,000. Geode Capital Management LLC boosted its holdings in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Wellington Management Group LLP grew its holdings in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after acquiring an additional 3,907,022 shares in the last quarter. Invesco Ltd. grew its stake in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $240,236,000. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. DA Davidson upped their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research note on Wednesday, March 5th. Citigroup boosted their price target on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Jefferies Financial Group raised their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada upped their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $75.19.

Palantir Technologies Price Performance

PLTR stock opened at $88.59 on Friday. The stock has a market capitalization of $207.78 billion, a PE ratio of 466.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. The company has a 50 day moving average price of $93.12 and a 200 day moving average price of $72.66. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares of the company’s stock, valued at $4,983,793.75. This trade represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,989,975 shares of company stock worth $253,328,090 over the last 90 days. 12.93% of the stock is owned by insiders.

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.