Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Lodestone Wealth Management LLC

Lodestone Wealth Management LLC lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 6.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,853 shares of the company’s stock after selling 643 shares during the period. Lodestone Wealth Management LLC’s holdings in Palantir Technologies were worth $670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Covenant Asset Management LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $201,000. Howard Wealth Management LLC raised its position in shares of Palantir Technologies by 0.6% during the 4th quarter. Howard Wealth Management LLC now owns 33,045 shares of the company’s stock worth $2,499,000 after acquiring an additional 190 shares in the last quarter. Kessler Investment Group LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $7,857,000. WealthPlan Investment Management LLC increased its position in Palantir Technologies by 145.2% during the fourth quarter. WealthPlan Investment Management LLC now owns 35,805 shares of the company’s stock worth $2,708,000 after buying an additional 21,204 shares during the period. Finally, Nations Financial Group Inc. IA ADV increased its position in Palantir Technologies by 15.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 21,885 shares of the company’s stock worth $1,655,000 after buying an additional 2,987 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $119.16 on Friday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $120.67. The company has a market cap of $271.45 billion, a PE ratio of 627.19, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81. The stock’s 50 day moving average price is $81.90 and its 200 day moving average price is $56.35.

Analyst Ratings Changes

Several research firms have commented on PLTR. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Wedbush lifted their price target on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. UBS Group lifted their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $69.44.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at $42,002.40. The trade was a 99.87 % 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 Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,346,976 shares of company stock worth $642,660,729 over the last three months. 12.93% of the stock is currently owned by corporate 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.