Washington Trust Advisors Inc. Reduces Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Washington Trust Advisors Inc. lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,800 shares of the company’s stock after selling 200 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Palantir Technologies were worth $136,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. increased its position in Palantir Technologies by 101.4% during the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after purchasing an additional 448 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in 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 worth $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake in Palantir Technologies during the 4th quarter worth about $876,000. Destiny Wealth Partners LLC purchased a new stake in Palantir Technologies in the 4th quarter valued at about $3,233,000. Finally, Oppenheimer & Co. Inc. grew its holdings in Palantir Technologies by 19.2% in 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 during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on PLTR shares. Mizuho lifted their price target on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Bank of America lifted their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Robert W. Baird lifted their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, William Blair upgraded Palantir Technologies from an “underperform” rating to a “market perform” rating in a report on Wednesday. Five investment 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.79.

Palantir Technologies Stock Down 10.7 %

NASDAQ PLTR opened at $80.46 on Friday. The stock has a market cap of $188.71 billion, a PE ratio of 423.50, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The business has a 50 day moving average price of $87.31 and a two-hundred day moving average price of $62.91.

Insider Activity

In other news, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 of the company’s stock, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,429,062 shares of company stock worth $106,673,884. 12.93% of the stock is currently 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.