EFG Asset Management Americas Corp. Cuts Position in Palantir Technologies Inc. (NASDAQ:PLTR)

EFG Asset Management Americas Corp. lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,459 shares of the company’s stock after selling 6,488 shares during the quarter. Palantir Technologies comprises 1.3% of EFG Asset Management Americas Corp.’s portfolio, making the stock its 24th largest position. EFG Asset Management Americas Corp.’s holdings in Palantir Technologies were worth $6,539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Roxbury Financial LLC purchased a new stake in Palantir Technologies in the fourth quarter worth about $27,000. First PREMIER Bank purchased a new stake in Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC lifted its stake in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares in the last quarter. HighMark Wealth Management LLC lifted its stake in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PLTR shares. Citigroup upped their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. UBS Group upped their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.79.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the transaction, the insider now directly owns 702,786 shares of the company’s stock, valued at $64,958,509.98. The trade was a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,429,062 shares of company stock worth $106,673,884. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Down 10.7 %

PLTR opened at $80.46 on Friday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The company has a market capitalization of $188.71 billion, a PE ratio of 423.50, a PEG ratio of 10.84 and a beta of 2.81. The firm’s 50 day simple moving average is $87.31 and its two-hundred day simple moving average is $62.91.

Palantir Technologies 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.