Independent Solutions Wealth Management LLC Decreases Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Independent Solutions Wealth Management LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,894 shares of the company’s stock after selling 3,520 shares during the period. Palantir Technologies makes up about 1.8% of Independent Solutions Wealth Management LLC’s holdings, making the stock its 13th largest holding. Independent Solutions Wealth Management LLC’s holdings in Palantir Technologies were worth $8,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC grew its position in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Palantir Technologies by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock worth $986,431,000 after acquiring an additional 655,815 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Palantir Technologies by 10.9% during the fourth quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock worth $971,367,000 after acquiring an additional 1,262,479 shares during the last quarter. Finally, FMR LLC raised its position in Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after purchasing an additional 1,004,603 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Up 1.5 %

Shares of NASDAQ:PLTR opened at $87.39 on Friday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The firm’s 50 day moving average price is $89.08 and its 200 day moving average price is $66.51. The stock has a market cap of $204.96 billion, a price-to-earnings ratio of 459.97, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Mizuho increased 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. Loop Capital dropped their price target on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Northland Securities upped their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. Morgan Stanley upgraded shares of 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. Finally, Bank of America boosted their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. 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 stock has an average rating of “Hold” and a consensus target price of $74.45.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 310,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.07, for a total value of $26,991,700.00. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $51,545.44. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,379,785 shares of company stock valued at $281,528,938. 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.