Islay Capital Management LLC Decreases Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Islay Capital Management LLC reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 30.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,414 shares of the company’s stock after selling 14,050 shares during the period. Palantir Technologies makes up about 1.6% of Islay Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. Islay Capital Management LLC’s holdings in Palantir Technologies were worth $2,376,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in Palantir Technologies by 96.4% during the third 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 last quarter. Norges Bank purchased a new stake in shares of Palantir Technologies in the 4th quarter worth $1,360,191,000. Geode Capital Management LLC increased its stake in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. Wellington Management Group LLP raised its holdings in Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock worth $354,117,000 after purchasing an additional 3,907,022 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Palantir Technologies during the fourth quarter valued at $240,236,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the transaction, the insider now owns 702,786 shares of the company’s stock, valued at $64,958,509.98. This represents a 4.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the sale, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,993,175 shares of company stock worth $253,549,610 over the last quarter. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Northland Securities raised their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Mizuho lifted their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” 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 upped their price target for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Royal Bank of Canada lifted 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. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $75.19.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $74.01 on Friday. The business’s 50 day moving average price is $92.67 and its 200-day moving average price is $70.70. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The company has a market cap of $173.58 billion, a P/E ratio of 389.55, a P/E/G ratio of 10.84 and a beta of 2.74.

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.