Sandy Spring Bank Trims Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Sandy Spring Bank lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 34.4% during the 4th quarter, Holdings Channel reports. The fund owned 509 shares of the company’s stock after selling 267 shares during the quarter. Sandy Spring Bank’s holdings in Palantir Technologies were worth $38,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $28,000. Wolff Wiese Magana LLC increased its position in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the last quarter. HighMark Wealth Management LLC increased its position in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 483,987 shares of Palantir Technologies stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the sale, the insider now directly owns 170,273 shares in the company, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares in the company, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,379,785 shares of company stock worth $281,528,938 in the last ninety days. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Trading Up 4.1 %

Palantir Technologies stock opened at $90.96 on Friday. The stock has a market cap of $213.33 billion, a P/E ratio of 478.76, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The company has a fifty day simple moving average of $89.55 and a 200-day simple moving average of $67.18. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PLTR shares. DA Davidson raised their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Jefferies Financial Group lifted their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. UBS Group lifted their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Five equities research 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 MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $74.45.

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.