Sfmg LLC Lowers Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Sfmg LLC lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 24.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,521 shares of the company’s stock after selling 12,760 shares during the quarter. Sfmg LLC’s holdings in Palantir Technologies were worth $2,913,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLTR. Natixis Advisors LLC increased its position in shares of Palantir Technologies by 406.7% during the third quarter. Natixis Advisors LLC now owns 54,742 shares of the company’s stock worth $2,036,000 after acquiring an additional 43,938 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Palantir Technologies by 73.8% during the third quarter. Thrivent Financial for Lutherans now owns 91,656 shares of the company’s stock worth $3,409,000 after acquiring an additional 38,924 shares during the last quarter. Pathstone Holdings LLC increased its position in shares of Palantir Technologies by 14.5% during the third quarter. Pathstone Holdings LLC now owns 108,707 shares of the company’s stock worth $4,044,000 after acquiring an additional 13,797 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Palantir Technologies during the third quarter worth about $1,919,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Palantir Technologies by 73.5% during the third quarter. PNC Financial Services Group Inc. now owns 107,455 shares of the company’s stock worth $3,997,000 after acquiring an additional 45,505 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $51,545.44. This represents a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,379,785 shares of company stock worth $281,528,938 in the last three months. 12.93% of the stock is owned by company insiders.

Palantir Technologies Trading Up 4.1 %

NASDAQ:PLTR opened at $90.96 on Friday. The stock has a 50 day moving average of $89.55 and a 200-day moving average of $66.92. The firm has a market capitalization of $213.33 billion, a PE ratio of 478.76, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of analyst reports. UBS Group lifted their target price on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. DA Davidson boosted their price objective on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Bank of America boosted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Loop Capital lowered their price objective on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $74.45.

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.