Roger Wittlin Investment Advisory LLC Cuts Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Roger Wittlin Investment Advisory LLC lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 14.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,978 shares of the company’s stock after selling 1,978 shares during the period. Palantir Technologies comprises 0.5% of Roger Wittlin Investment Advisory LLC’s investment portfolio, making the stock its 25th biggest holding. Roger Wittlin Investment Advisory LLC’s holdings in Palantir Technologies were worth $906,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Glenmede Trust Co. NA raised its stake in Palantir Technologies by 87.2% in the third quarter. Glenmede Trust Co. NA now owns 21,558 shares of the company’s stock valued at $802,000 after buying an additional 10,040 shares in the last quarter. Public Sector Pension Investment Board acquired a new stake in shares of Palantir Technologies during the 3rd quarter worth about $3,207,000. Paloma Partners Management Co lifted its stake in Palantir Technologies by 1,035.0% during the third quarter. Paloma Partners Management Co now owns 19,124 shares of the company’s stock worth $711,000 after purchasing an additional 17,439 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Palantir Technologies by 170.0% in the third quarter. Janus Henderson Group PLC now owns 373,534 shares of the company’s stock valued at $13,897,000 after purchasing an additional 235,168 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Palantir Technologies in the third quarter valued at approximately $280,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 3.3 %

Shares of NASDAQ:PLTR opened at $87.45 on Thursday. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The stock’s 50-day moving average price is $92.68 and its two-hundred day moving average price is $70.34. The firm has a market cap of $205.10 billion, a price-to-earnings ratio of 460.29, a PEG ratio of 10.84 and a beta of 2.81.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This represents a 99.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,993,175 shares of company stock valued at $253,549,610. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on PLTR shares. Bank of America boosted 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. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Northland Securities boosted their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Citigroup raised their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Robert W. Baird boosted their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.19.

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.