Palantir Technologies Inc. (NASDAQ:PLTR) Stock Position Lowered by Cornerstone Enterprises LLC

Cornerstone Enterprises LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 38.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,311 shares of the company’s stock after selling 31,101 shares during the period. Palantir Technologies accounts for 2.2% of Cornerstone Enterprises LLC’s investment portfolio, making the stock its 14th biggest holding. Cornerstone Enterprises LLC’s holdings in Palantir Technologies were worth $3,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Heritage Wealth Management Inc. CA lifted its position in Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock worth $2,195,000 after buying an additional 111 shares in the last quarter. Westover Capital Advisors LLC raised its holdings in shares of Palantir Technologies by 1.8% during the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after acquiring an additional 130 shares in the last quarter. Tritonpoint Wealth LLC boosted its position in Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after purchasing an additional 132 shares during the last quarter. Twin Peaks Wealth Advisors LLC boosted its position in Palantir Technologies by 2.2% during the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock valued at $493,000 after purchasing an additional 139 shares during the last quarter. Finally, Truvestments Capital LLC grew its stake in Palantir Technologies by 1.2% in the fourth quarter. Truvestments Capital LLC now owns 12,311 shares of the company’s stock valued at $931,000 after purchasing an additional 142 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $88.55 on Friday. The company has a 50-day moving average of $92.81 and a 200-day moving average of $73.02. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The company has a market capitalization of $207.68 billion, a price-to-earnings ratio of 466.08, a PEG ratio of 10.84 and a beta of 2.74.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PLTR shares. Royal Bank of Canada boosted their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Bank of America increased their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Cantor Fitzgerald raised their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Mizuho upped their price objective 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. Finally, Daiwa Capital Markets started coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 target price on the stock. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $75.19.

Insider Buying and Selling

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,989,975 shares of company stock valued at $253,328,090 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

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.