Meridian Investment Counsel Inc. Sells 8,120 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Meridian Investment Counsel Inc. lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 12.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,600 shares of the company’s stock after selling 8,120 shares during the period. Palantir Technologies accounts for about 1.3% of Meridian Investment Counsel Inc.’s portfolio, making the stock its 15th largest position. Meridian Investment Counsel Inc.’s holdings in Palantir Technologies were worth $4,356,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Heritage Wealth Management Inc. CA raised its holdings in shares of Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock worth $2,195,000 after purchasing an additional 111 shares during the period. Westover Capital Advisors LLC increased its position in Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after buying an additional 130 shares during the last quarter. Tritonpoint Wealth LLC raised its stake in shares of Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after buying an additional 132 shares during the period. Twin Peaks Wealth Advisors LLC lifted its position in shares of Palantir Technologies by 2.2% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock valued at $493,000 after buying an additional 139 shares during the last quarter. Finally, Truvestments Capital LLC grew its stake in shares of Palantir Technologies by 1.2% during the 4th quarter. Truvestments Capital LLC now owns 12,311 shares of the company’s stock worth $931,000 after acquiring an additional 142 shares during the period. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

PLTR has been the subject of several analyst reports. Royal Bank of Canada raised their price objective 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. Cantor Fitzgerald raised 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 price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Mizuho increased their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group increased their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.45.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s 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 completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $48,988. This represents a 99.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares of the company’s stock, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,379,785 shares of company stock valued at $281,528,938 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Down 4.7 %

PLTR opened at $85.85 on Monday. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The company has a market cap of $201.35 billion, a price-to-earnings ratio of 451.87, a PEG ratio of 10.84 and a beta of 2.81. The company’s 50 day moving average is $91.98 and its 200 day moving average is $69.53.

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.