MN Wealth Advisors LLC Decreases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

MN Wealth Advisors LLC reduced its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 31.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,911 shares of the company’s stock after selling 1,813 shares during the period. MN Wealth Advisors LLC’s holdings in Palantir Technologies were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies in the fourth quarter worth about $27,000. First PREMIER Bank purchased a new position in shares of Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC lifted its stake in shares of 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 buying an additional 265 shares in the last quarter. R Squared Ltd purchased a new position in shares of Palantir Technologies in the fourth quarter worth about $33,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of Palantir Technologies in the fourth quarter worth about $38,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of Palantir Technologies stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $66.77, for a total transaction of $650,740.42. Following the completion of the transaction, the director now owns 111,644 shares of the company’s stock, valued at $7,454,469.88. This represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,346,976 shares of company stock worth $642,660,729. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $119.16 on Friday. The stock has a market capitalization of $271.45 billion, a P/E ratio of 627.19, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81. The company has a 50 day moving average price of $81.90 and a 200 day moving average price of $56.56. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $120.67.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Citigroup raised their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Bank of America raised their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.