EdgeRock Capital LLC Lowers Position in Palantir Technologies Inc. (NASDAQ:PLTR)

EdgeRock Capital LLC lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 33.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,571 shares of the company’s stock after selling 6,895 shares during the quarter. Palantir Technologies makes up about 0.7% of EdgeRock Capital LLC’s holdings, making the stock its 23rd largest position. EdgeRock Capital LLC’s holdings in Palantir Technologies were worth $1,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Tritonpoint Wealth LLC boosted its stake in Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after acquiring an additional 132 shares during the last quarter. Kennebec Savings Bank lifted its stake in Palantir Technologies by 29.5% in the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after purchasing an additional 159 shares during the last quarter. HighMark Wealth Management LLC grew its holdings in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares during the period. RMR Wealth Builders increased its position in Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after buying an additional 167 shares during the last quarter. Finally, Bay Rivers Group increased its position in Palantir Technologies by 2.7% in the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after buying an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

PLTR stock opened at $90.68 on Tuesday. The firm has a 50 day simple moving average of $86.17 and a two-hundred day simple moving average of $60.27. The stock has a market cap of $206.57 billion, a PE ratio of 477.29, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now directly owns 100,923 shares in the company, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $50,128,019.74. This represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,719,783 shares of company stock worth $477,414,743. Corporate insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Loop Capital assumed coverage on Palantir Technologies in a research report on Thursday, February 20th. They issued a “buy” rating and a $141.00 price target for the company. 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 note on Tuesday, February 4th. Finally, Cantor Fitzgerald raised their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.21.

Palantir Technologies Company 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.