Burt Wealth Advisors Cuts Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Burt Wealth Advisors lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,499 shares of the company’s stock after selling 1,800 shares during the period. Burt Wealth Advisors’ holdings in Palantir Technologies were worth $643,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PLTR. Mather Group LLC. lifted its position in Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after acquiring an additional 448 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at $876,000. Destiny Wealth Partners LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $3,233,000. Finally, Oppenheimer & Co. Inc. increased its position in Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after buying an additional 87,062 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PLTR shares. UBS Group raised their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.79.

Palantir Technologies Stock Down 1.8 %

PLTR stock opened at $83.42 on Tuesday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The firm has a market cap of $190.03 billion, a P/E ratio of 439.08, a PEG ratio of 10.84 and a beta of 2.81. The company’s 50-day simple moving average is $87.14 and its 200-day simple moving average is $62.23.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the completion of the sale, the insider now directly owns 702,786 shares in the company, valued at $64,958,509.98. The trade was a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at $42,002.40. This trade represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,439,783 shares of company stock valued at $107,497,043. 12.93% of the stock is owned by company insiders.

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.