Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 20.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 560,021 shares of the company’s stock after selling 140,797 shares during the period. Stephens Investment Management Group LLC’s holdings in Palantir Technologies were worth $42,354,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in Palantir Technologies during the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC boosted its holdings in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. First PREMIER Bank bought a new stake in Palantir Technologies during the fourth quarter valued at $28,000. Wolff Wiese Magana LLC raised its holdings in shares of Palantir Technologies by 230.4% during the fourth 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 period. Finally, R Squared Ltd acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $33,000. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. DA Davidson raised their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Bank of America boosted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. UBS Group increased their target price on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Citigroup boosted their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $69.44.

Insider Activity

In related news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $405,875,479.80. This trade represents a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,656,687 shares of company stock worth $1,040,105,687. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Down 0.4 %

Shares of PLTR stock opened at $110.85 on Friday. The stock has a 50-day simple moving average of $77.34 and a 200 day simple moving average of $53.24. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $116.30. The stock has a market capitalization of $252.52 billion, a P/E ratio of 583.45, a P/E/G ratio of 11.44 and a beta of 2.81.

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.