Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Straight Path Wealth Management

Straight Path Wealth Management lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,771 shares of the company’s stock after selling 2,832 shares during the quarter. Palantir Technologies comprises approximately 1.0% of Straight Path Wealth Management’s investment portfolio, making the stock its 15th largest holding. Straight Path Wealth Management’s holdings in Palantir Technologies were worth $2,403,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PLTR. Westover Capital Advisors LLC raised its stake in shares of Palantir Technologies by 1.8% during the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after buying an additional 130 shares during the period. Tritonpoint Wealth LLC raised its stake in Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after purchasing an additional 132 shares during the last quarter. Twin Peaks Wealth Advisors LLC raised its stake in Palantir Technologies by 2.2% in the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock valued at $493,000 after purchasing an additional 139 shares during the last quarter. Kennebec Savings Bank raised its stake in Palantir Technologies by 29.5% in the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after purchasing an additional 159 shares during the last quarter. Finally, HighMark Wealth Management LLC raised 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 purchasing an additional 166 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PLTR. Mizuho increased their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Royal Bank of Canada raised their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. UBS Group raised their target price on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group raised their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $74.79.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the sale, the director now owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. This trade represents a 9.60 % 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 Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,439,783 shares of company stock valued at $107,497,043. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $90.13 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The firm has a market capitalization of $211.39 billion, a PE ratio of 474.39, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The stock’s 50-day simple moving average is $87.34 and its 200-day simple moving average is $62.79.

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.