LM Advisors LLC Reduces Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

LM Advisors LLC reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 31.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,958 shares of the company’s stock after selling 13,276 shares during the quarter. LM Advisors LLC’s holdings in Palantir Technologies were worth $2,190,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State Street Corp raised 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 purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 valued at $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after buying an additional 2,984,348 shares in the last quarter. Amundi lifted its holdings in Palantir Technologies by 62.7% during the 4th quarter. Amundi now owns 6,804,915 shares of the company’s stock worth $514,656,000 after buying an additional 2,623,524 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Palantir Technologies by 226.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock worth $105,636,000 after acquiring an additional 1,969,213 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLTR. Mizuho raised their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Robert W. Baird raised their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Royal Bank of Canada boosted their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research note on Wednesday, March 5th. Finally, DA Davidson lifted their target price on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Trading Down 4.4 %

Shares of Palantir Technologies stock opened at $92.28 on Thursday. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The company’s 50-day moving average price is $91.28 and its two-hundred day moving average price is $68.54. The stock has a market cap of $216.43 billion, a PE ratio of 485.71, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Insider Buying and Selling

In other news, Director Alexandra W. Schiff sold 6,776 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the sale, the director now directly owns 184,617 shares of the company’s stock, valued at $15,993,370.71. This represents a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 310,000 shares of Palantir Technologies stock in a transaction dated 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 completion of the transaction, the insider now directly owns 592 shares in the company, valued at $51,545.44. This represents a 99.81 % decrease in their position. 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 currently owned by corporate insiders.

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.