Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Empower Advisory Group LLC

Empower Advisory Group LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.1% in the fourth quarter, HoldingsChannel reports. The firm owned 10,822 shares of the company’s stock after selling 463 shares during the period. Empower Advisory Group LLC’s holdings in Palantir Technologies were worth $818,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Truist Financial Corp lifted its stake in shares of Palantir Technologies by 18.1% in the 4th quarter. Truist Financial Corp now owns 567,940 shares of the company’s stock worth $42,953,000 after acquiring an additional 87,078 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Palantir Technologies by 130.3% in the 4th quarter. CIBC Asset Management Inc now owns 682,168 shares of the company’s stock worth $51,592,000 after acquiring an additional 385,992 shares during the period. Pittenger & Anderson Inc. lifted its stake in shares of Palantir Technologies by 29.2% in the 4th quarter. Pittenger & Anderson Inc. now owns 7,750 shares of the company’s stock worth $586,000 after acquiring an additional 1,750 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Palantir Technologies by 31.1% in the 4th quarter. Sanctuary Advisors LLC now owns 375,512 shares of the company’s stock worth $30,499,000 after acquiring an additional 88,988 shares during the period. Finally, KLCM Advisors Inc. acquired a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $303,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of PLTR opened at $124.62 on Wednesday. The company’s 50 day moving average price is $83.91 and its 200 day moving average price is $58.13. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.00. The company has a market capitalization of $283.89 billion, a PE ratio of 655.93, a PEG ratio of 11.44 and a beta of 2.81.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Bank of America boosted their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Mizuho boosted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. UBS Group boosted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Robert W. Baird boosted their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $69.44.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the sale, the director now directly owns 111,644 shares of the company’s stock, valued at $7,454,469.88. The trade was a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the business’s 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 sale, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,301,387 shares of company stock valued at $575,821,045. Corporate insiders own 12.93% of the company’s stock.

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.