Canvas Wealth Advisors LLC Sells 10,305 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Canvas Wealth Advisors LLC decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 6.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 140,033 shares of the company’s stock after selling 10,305 shares during the quarter. Palantir Technologies comprises 2.7% of Canvas Wealth Advisors LLC’s investment portfolio, making the stock its 13th largest holding. Canvas Wealth Advisors LLC’s holdings in Palantir Technologies were worth $10,591,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tritonpoint Wealth LLC grew its position in shares of Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after buying an additional 132 shares during the period. Kennebec Savings Bank boosted its stake in Palantir Technologies by 29.5% in the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after acquiring an additional 159 shares during the last quarter. RMR Wealth Builders grew its holdings in Palantir Technologies by 2.4% during the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after acquiring an additional 167 shares during the period. Bay Rivers Group raised its position in shares of Palantir Technologies by 2.7% during the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after acquiring an additional 171 shares during the last quarter. Finally, Christensen King & Associates Investment Services Inc. raised its position in shares of Palantir Technologies by 3.0% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock valued at $486,000 after acquiring an additional 174 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 1,823,602 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $406,004,124.96. This represents a 22.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies 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 sale, the director now owns 62,139 shares in the company, valued at $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,656,687 shares of company stock valued at $1,040,105,687 in the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $110.85 on Monday. The firm has a market cap of $252.52 billion, a PE ratio of 583.45, a P/E/G ratio of 11.44 and a beta of 2.81. The business’s 50 day simple moving average is $77.34 and its 200 day simple moving average is $53.42. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $116.30.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of analyst reports. Robert W. Baird lifted their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Citigroup boosted their target price on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. DA Davidson increased their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Bank of America lifted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, UBS Group upped their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $69.44.

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.