Caz Investments LP Cuts Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Caz Investments LP decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 92.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 500 shares of the company’s stock after selling 6,500 shares during the period. Palantir Technologies accounts for 0.1% of Caz Investments LP’s investment portfolio, making the stock its 27th biggest holding. Caz Investments LP’s holdings in Palantir Technologies were worth $38,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brown Brothers Harriman & Co. lifted its holdings in Palantir Technologies by 19.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 8,181 shares of the company’s stock worth $619,000 after acquiring an additional 1,306 shares during the period. DnB Asset Management AS raised its holdings in shares of Palantir Technologies by 5.8% in the 4th quarter. DnB Asset Management AS now owns 357,354 shares of the company’s stock worth $27,034,000 after purchasing an additional 19,515 shares during the period. Orion Portfolio Solutions LLC raised its stake in shares of Palantir Technologies by 31.4% in the fourth quarter. Orion Portfolio Solutions LLC now owns 80,531 shares of the company’s stock valued at $6,091,000 after buying an additional 19,258 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Palantir Technologies by 13.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 709,512 shares of the company’s stock valued at $53,660,000 after purchasing an additional 82,165 shares during the last quarter. Finally, Norges Bank bought a new position in Palantir Technologies in the 4th quarter worth approximately $1,360,191,000. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PLTR. Robert W. Baird raised their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Loop Capital decreased their target price on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Finally, Royal Bank of Canada raised their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $74.45.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $48,988. This represents a 99.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the sale, the insider now directly owns 170,273 shares in the company, valued at $12,681,933.04. The trade was a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $85.85 on Friday. The business has a 50-day moving average of $91.98 and a 200 day moving average of $69.04. The stock has a market capitalization of $201.35 billion, a PE ratio of 451.87, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41.

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.