Wealth Alliance Cuts Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Wealth Alliance decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 54.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,278 shares of the company’s stock after selling 5,153 shares during the quarter. Wealth Alliance’s holdings in Palantir Technologies were worth $324,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp raised its holdings in Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC raised its holdings in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after buying an additional 808,444 shares during the period. FMR LLC raised its holdings in Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PLTR shares. Robert W. Baird raised their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Bank of America lifted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Royal Bank of Canada lifted their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Finally, Cantor Fitzgerald lifted their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $73.21.

Palantir Technologies Price Performance

PLTR stock opened at $101.33 on Friday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The firm has a fifty day moving average price of $85.87 and a two-hundred day moving average price of $59.37. The firm has a market cap of $230.84 billion, a price-to-earnings ratio of 533.36, a PEG ratio of 11.52 and a beta of 2.81.

Insider Buying and Selling at Palantir Technologies

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 shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares in the company, valued at $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 is available at this link. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $66.77, for a total transaction of $650,740.42. Following the sale, the director now owns 111,644 shares of the company’s stock, valued at approximately $7,454,469.88. The trade was a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,680,992 shares of company stock worth $473,395,877 over the last 90 days. Insiders own 12.93% of the company’s stock.

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.