Stonebridge Capital Advisors LLC Cuts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Stonebridge Capital Advisors LLC lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,275 shares of the company’s stock after selling 800 shares during the period. Stonebridge Capital Advisors LLC’s holdings in Palantir Technologies were worth $475,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Roxbury Financial LLC bought a new position in shares of Palantir Technologies in the 4th quarter valued at about $27,000. First PREMIER Bank purchased a new stake in Palantir Technologies during the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC lifted its stake in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. HighMark Wealth Management LLC boosted its holdings in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares during the period. Finally, Sierra Ocean LLC bought a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $107.78 on Friday. The firm has a 50-day simple moving average of $89.58 and a 200-day simple moving average of $76.39. Palantir Technologies Inc. has a one year low of $20.50 and a one year high of $125.41. The firm has a market cap of $252.78 billion, a P/E ratio of 567.29, a P/E/G ratio of 10.84 and a beta of 2.74.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 11,794 shares of Palantir Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total value of $1,212,423.20. Following the transaction, the director now owns 88,129 shares in the company, valued at $9,059,661.20. The trade was a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock valued at $253,328,090 over the last ninety days. 12.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of analyst reports. Loop Capital restated a “buy” rating on shares of Palantir Technologies in a research report on Friday, April 4th. Royal Bank of Canada raised their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. William Blair set a $84.00 price target on shares of Palantir Technologies in a report on Wednesday, March 5th. Wedbush reissued an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a research report on Monday, March 3rd. Finally, 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 research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $74.71.

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.