Palantir Technologies Inc. (NASDAQ:PLTR) Stake Trimmed by Blue Trust Inc.

Blue Trust Inc. cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 51.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,454 shares of the company’s stock after selling 17,474 shares during the quarter. Blue Trust Inc.’s holdings in Palantir Technologies were worth $1,244,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Roman Butler Fullerton & Co. purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $222,000. New York State Teachers Retirement System raised its stake in Palantir Technologies by 3.2% during the 4th quarter. New York State Teachers Retirement System now owns 1,597,211 shares of the company’s stock valued at $120,797,000 after purchasing an additional 49,829 shares during the period. Asset Planning Inc purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at $101,000. Vicus Capital acquired a new stake in shares of Palantir Technologies in the fourth quarter worth $256,000. Finally, V Square Quantitative Management LLC grew its holdings in shares of Palantir Technologies by 26.4% during the fourth quarter. V Square Quantitative Management LLC now owns 9,018 shares of the company’s stock valued at $682,000 after buying an additional 1,885 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PLTR shares. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Royal Bank of Canada raised their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. UBS Group lifted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, DA Davidson upped their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $119.16 on Friday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $120.67. The firm has a fifty day moving average price of $81.90 and a two-hundred day moving average price of $56.56. The firm has a market cap of $271.45 billion, a price-to-earnings ratio of 627.19, a P/E/G ratio of 11.44 and a beta of 2.81.

Insider Transactions at Palantir Technologies

In related news, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the transaction, 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 is available through this hyperlink. Also, insider Alexander C. Karp sold 38,093 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $405,296,576.58. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,346,976 shares of company stock worth $642,660,729. Company insiders own 12.93% of the company’s stock.

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.