BayBridge Capital Group LLC Lowers Position in Palantir Technologies Inc. (NASDAQ:PLTR)

BayBridge Capital Group LLC cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 39.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,630 shares of the company’s stock after selling 8,326 shares during the period. BayBridge Capital Group LLC’s holdings in Palantir Technologies were worth $955,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PLTR. First PREMIER Bank bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $28,000. Wolff Wiese Magana LLC boosted 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 worth $29,000 after buying an additional 265 shares during the last quarter. R Squared Ltd bought a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $33,000. Valley National Advisers Inc. lifted its holdings in Palantir Technologies by 181.3% during the fourth quarter. Valley National Advisers Inc. now owns 512 shares of the company’s stock worth $38,000 after acquiring an additional 330 shares during the period. Finally, Concord Wealth Partners boosted its position in Palantir Technologies by 132.2% in the fourth quarter. Concord Wealth Partners now owns 527 shares of the company’s stock worth $40,000 after purchasing an additional 300 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 1,823,602 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $406,004,124.96. This trade represents a 22.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,656,687 shares of company stock valued at $1,040,105,687. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

PLTR opened at $110.85 on Friday. The firm has a market capitalization of $252.52 billion, a P/E ratio of 583.45, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $116.30. The company has a fifty day moving average price of $76.46 and a 200-day moving average price of $52.67.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Robert W. Baird lifted their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday. The Goldman Sachs Group upped their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Citigroup upped their price target on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday. Jefferies Financial Group boosted their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Six equities research 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.com, the company presently has an average rating of “Hold” and an average price target of $69.44.

About Palantir Technologies

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.