Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 21.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 481,288 shares of the company’s stock after selling 134,115 shares during the period. Palantir Technologies accounts for approximately 0.8% of Parallel Advisors LLC’s investment portfolio, making the stock its 20th biggest holding. Parallel Advisors LLC’s holdings in Palantir Technologies were worth $36,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cibc World Markets Corp raised its position in shares of Palantir Technologies by 37.6% during the 4th quarter. Cibc World Markets Corp now owns 376,997 shares of the company’s stock worth $28,512,000 after acquiring an additional 102,994 shares in the last quarter. Addison Capital Co acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $352,000. IMG Wealth Management Inc. acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $92,000. SlateStone Wealth LLC raised its position in shares of Palantir Technologies by 0.7% during the 4th quarter. SlateStone Wealth LLC now owns 108,654 shares of the company’s stock worth $8,218,000 after acquiring an additional 792 shares in the last quarter. Finally, GWN Securities Inc. acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $312,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Loop Capital cut their target price on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday. Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Jefferies Financial Group raised their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. UBS Group raised their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Wedbush restated an “outperform” rating and set a $120.00 price target on shares of Palantir Technologies in a research note on Monday, March 3rd. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $74.45.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $48,988. This represents a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,069,785 shares of company stock valued at $254,537,238 in the last three months. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

PLTR opened at $86.24 on Monday. The business has a 50 day simple moving average of $87.83 and a 200-day simple moving average of $65.46. The stock has a market capitalization of $202.26 billion, a P/E ratio of 453.92, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41.

About Palantir Technologies

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.