Stephens Inc. AR Sells 118,709 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Stephens Inc. AR cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 22.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 406,446 shares of the company’s stock after selling 118,709 shares during the quarter. Stephens Inc. AR’s holdings in Palantir Technologies were worth $30,740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PLTR. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies during the third quarter valued at $25,000. Prestige Wealth Management Group LLC raised its stake in Palantir Technologies by 747.1% during 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 last quarter. First PREMIER Bank purchased a new position in Palantir Technologies during the fourth quarter valued at $28,000. Wolff Wiese Magana LLC raised its stake in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Palantir Technologies during the fourth quarter valued at $33,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $110.85 on Friday. The stock has a 50-day simple moving average of $77.34 and a two-hundred day simple moving average of $53.42. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $116.30. The firm has a market capitalization of $252.52 billion, a PE ratio of 583.45, a P/E/G ratio of 11.44 and a beta of 2.81.

Analysts Set New Price Targets

A number of brokerages have issued reports on PLTR. DA Davidson lifted their price objective on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group boosted 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. Bank of America boosted their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Northland Securities boosted their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Finally, Citigroup boosted their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus target price of $69.44.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 1,823,602 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total value of $115,105,758.24. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $406,004,124.96. This trade represents a 22.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,656,687 shares of company stock valued at $1,040,105,687. Company 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.