IFP Advisors Inc Lowers Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

IFP Advisors Inc lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 10.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 125,392 shares of the company’s stock after selling 14,425 shares during the period. IFP Advisors Inc’s holdings in Palantir Technologies were worth $9,483,000 at the end of the most recent reporting period.

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

Palantir Technologies Price Performance

Shares of PLTR opened at $101.33 on Monday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The stock has a market cap of $230.84 billion, a PE ratio of 533.36, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The firm has a fifty day moving average price of $85.87 and a 200 day moving average price of $59.84.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PLTR. DA Davidson raised their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Bank of America raised their price target 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. Citigroup lifted their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Finally, Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $73.21.

Insider Activity

In related news, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value 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. This represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,671,246 shares of company stock valued at $472,745,137. Insiders own 12.93% of the company’s stock.

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.