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

CapWealth Advisors LLC lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 517,573 shares of the company’s stock after selling 16,016 shares during the period. Palantir Technologies makes up approximately 4.3% of CapWealth Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. CapWealth Advisors LLC’s holdings in Palantir Technologies were worth $39,144,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of Palantir Technologies by 63.4% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 37,631 shares of the company’s stock worth $1,400,000 after acquiring an additional 14,600 shares during the period. Good Life Advisors LLC increased its stake in shares of Palantir Technologies by 7.3% during the third quarter. Good Life Advisors LLC now owns 14,683 shares of the company’s stock valued at $546,000 after buying an additional 997 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Palantir Technologies by 99.5% in the third quarter. Global Retirement Partners LLC now owns 34,804 shares of the company’s stock valued at $1,295,000 after acquiring an additional 17,357 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Palantir Technologies by 10.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 47,395 shares of the company’s stock valued at $1,763,000 after purchasing an additional 4,664 shares in the last quarter. Finally, Trifecta Capital Advisors LLC boosted its stake in shares of Palantir Technologies by 33.2% during the third quarter. Trifecta Capital Advisors LLC now owns 110,315 shares of the company’s stock valued at $4,104,000 after purchasing an additional 27,505 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. DA Davidson boosted their price target on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Mizuho raised their price target on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Northland Securities upped their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Citigroup lifted their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $69.44.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 38,093 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $405,296,576.58. This represents a 0.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,346,976 shares of company stock worth $642,660,729. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Up 1.1 %

PLTR opened at $119.16 on Friday. The company has a 50-day moving average price of $81.90 and a 200 day moving average price of $56.35. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $120.67. The company has a market cap of $271.45 billion, a PE ratio of 627.19, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81.

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.