Fortis Capital Advisors LLC Sells 7,439 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Fortis Capital Advisors LLC lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 19.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,787 shares of the company’s stock after selling 7,439 shares during the quarter. Palantir Technologies comprises approximately 0.8% of Fortis Capital Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Fortis Capital Advisors LLC’s holdings in Palantir Technologies were worth $2,404,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its holdings in shares of Palantir Technologies by 14.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,533,382 shares of the company’s stock worth $115,968,000 after buying an additional 196,603 shares in the last quarter. NFP Retirement Inc. acquired a new position in Palantir Technologies during the 4th quarter worth approximately $285,000. Monetary Management Group Inc. bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $151,000. Jaffetilchin Investment Partners LLC raised its holdings in shares of Palantir Technologies by 6.5% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 34,980 shares of the company’s stock valued at $2,646,000 after purchasing an additional 2,144 shares during the last quarter. Finally, Argent Trust Co bought a new stake in shares of Palantir Technologies in the fourth quarter worth $354,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PLTR shares. UBS Group raised their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. William Blair set a $84.00 target price on Palantir Technologies in a report on Wednesday, March 5th. Citigroup lifted their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, DA Davidson upped their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.19.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 98,177 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the sale, the insider now directly owns 403,171 shares of the company’s stock, valued at $33,382,558.80. The trade was a 19.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the transaction, the director now directly owns 88,129 shares of the company’s stock, valued at $9,059,661.20. The trade was a 11.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,989,975 shares of company stock worth $253,328,090. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $88.55 on Friday. The company’s 50 day moving average price is $92.81 and its two-hundred day moving average price is $73.02. The firm has a market capitalization of $207.68 billion, a P/E ratio of 466.08, a P/E/G ratio of 10.84 and a beta of 2.74. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41.

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.