Titleist Asset Management LLC Sells 295,902 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Titleist Asset Management LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 71.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,940 shares of the company’s stock after selling 295,902 shares during the quarter. Palantir Technologies accounts for approximately 1.0% of Titleist Asset Management LLC’s investment portfolio, making the stock its 19th largest position. Titleist Asset Management LLC’s holdings in Palantir Technologies were worth $8,844,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PLTR. Norges Bank bought a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Geode Capital Management LLC increased its stake 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 acquiring an additional 16,598,253 shares during the last quarter. Wellington Management Group LLP raised its position in Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after purchasing an additional 3,907,022 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Palantir Technologies during the fourth quarter worth $240,236,000. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Down 11.5 %

PLTR opened at $74.01 on Friday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The company has a fifty day moving average of $92.67 and a 200-day moving average of $70.93. The stock has a market cap of $173.58 billion, a PE ratio of 389.55, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PLTR shares. Jefferies Financial Group boosted their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Loop Capital reiterated a “buy” rating on shares of Palantir Technologies in a research report on Friday. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. William Blair set a $84.00 price target on shares of Palantir Technologies in a report on Wednesday, March 5th. Finally, Citigroup increased their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $75.19.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,993,175 shares of company stock valued at $253,549,610. 12.93% of the stock is currently owned by insiders.

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.