Palantir Technologies Inc. (NASDAQ:PLTR) Stock Position Reduced by Byrne Asset Management LLC

Byrne Asset Management LLC lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 10.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,565 shares of the company’s stock after selling 310 shares during the period. Byrne Asset Management LLC’s holdings in Palantir Technologies were worth $194,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PLTR. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies in the third quarter valued at about $25,000. Prestige Wealth Management Group LLC grew its stake in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares in the last quarter. First PREMIER Bank acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC grew its position in 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 acquiring an additional 265 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Palantir Technologies during the 4th quarter worth $33,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on PLTR. Wedbush lifted their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Jefferies Financial Group boosted their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday. Royal Bank of Canada increased their price objective on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday. Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, Northland Securities lifted their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $69.44.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $110.85 on Friday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $116.30. The firm has a market capitalization of $252.52 billion, a PE ratio of 583.45, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81. The company’s fifty day moving average price is $76.46 and its two-hundred day moving average price is $52.67.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the transaction, the director now directly owns 88,129 shares in the company, valued at $9,059,661.20. This represents a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $405,875,479.80. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,656,687 shares of company stock valued at $1,040,105,687 over the last quarter. 12.93% of the stock is owned by company insiders.

About Palantir Technologies

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.