Bank of Nova Scotia Has $20.45 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Bank of Nova Scotia trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 25.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 270,433 shares of the company’s stock after selling 94,022 shares during the period. Bank of Nova Scotia’s holdings in Palantir Technologies were worth $20,453,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Prestige Wealth Management Group LLC lifted its holdings in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $27,000. First PREMIER Bank purchased a new position in Palantir Technologies in the 4th quarter valued at approximately $28,000. Wolff Wiese Magana LLC grew its stake in 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 buying an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC grew its stake in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on PLTR. 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. Bank of America boosted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Northland Securities boosted their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Jefferies Financial Group boosted their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada upped their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.19.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 13,891 shares of the 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 completion of the transaction, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now directly owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,989,975 shares of company stock valued at $253,328,090. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $92.01 on Thursday. The stock’s fifty day simple moving average is $93.02 and its 200 day simple moving average is $72.30. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The firm has a market cap of $215.80 billion, a price-to-earnings ratio of 484.29, a P/E/G ratio of 10.84 and a beta of 2.74.

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.