Palantir Technologies Inc. (NASDAQ:PLTR) Stake Lessened by Blue Trust Inc.

Blue Trust Inc. trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 51.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,454 shares of the company’s stock after selling 17,474 shares during the quarter. Blue Trust Inc.’s holdings in Palantir Technologies were worth $1,244,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Good Life Advisors LLC lifted its position in shares of Palantir Technologies by 7.3% during the third quarter. Good Life Advisors LLC now owns 14,683 shares of the company’s stock worth $546,000 after purchasing an additional 997 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Palantir Technologies by 99.5% in the 3rd quarter. Global Retirement Partners LLC now owns 34,804 shares of the company’s stock worth $1,295,000 after acquiring an additional 17,357 shares in the last quarter. Bleakley Financial Group LLC grew its position in shares of Palantir Technologies by 10.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 47,395 shares of the company’s stock worth $1,763,000 after acquiring an additional 4,664 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in shares of Palantir Technologies by 371.6% in the 3rd quarter. AlphaMark Advisors LLC now owns 3,985 shares of the company’s stock valued at $148,000 after acquiring an additional 3,140 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Palantir Technologies by 28.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 219,051 shares of the company’s stock valued at $8,149,000 after acquiring an additional 49,084 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Bank of America boosted their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird raised their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald raised their price target on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $69.44.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 38,093 shares of Palantir Technologies stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $405,296,576.58. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction dated 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 directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,346,976 shares of company stock worth $642,660,729 over the last quarter. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Trading Up 1.1 %

PLTR stock opened at $119.16 on Friday. The firm’s 50-day moving average is $81.90 and its two-hundred day moving average is $56.56. The company has a market capitalization of $271.45 billion, a price-to-earnings ratio of 627.19, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $120.67.

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.