IFP Advisors Inc Cuts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

IFP Advisors Inc lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 10.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 125,392 shares of the company’s stock after selling 14,425 shares during the period. IFP Advisors Inc’s holdings in Palantir Technologies were worth $9,483,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of PLTR. Allspring Global Investments Holdings LLC raised its holdings in Palantir Technologies by 227.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 122,200 shares of the company’s stock worth $4,546,000 after purchasing an additional 84,856 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Palantir Technologies by 80.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 37,012 shares of the company’s stock valued at $1,377,000 after buying an additional 16,469 shares during the period. Silver Oak Securities Incorporated lifted its holdings in shares of Palantir Technologies by 73.1% in the 3rd quarter. Silver Oak Securities Incorporated now owns 17,389 shares of the company’s stock valued at $641,000 after buying an additional 7,343 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Palantir Technologies by 38.5% in the 3rd quarter. Ballentine Partners LLC now owns 17,095 shares of the company’s stock valued at $636,000 after buying an additional 4,756 shares during the period. Finally, Highland Capital Management LLC acquired a new stake in Palantir Technologies in the third quarter valued at $1,339,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction dated 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 completion of the sale, the insider now owns 512,006 shares in the company, valued at $59,372,215.76. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $66.59, for a total value of $1,997,700.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at $50,128,019.74. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,671,246 shares of company stock worth $472,745,137. 12.93% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Bank of America raised their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Mizuho raised their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Wedbush lifted their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Citigroup lifted their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $73.21.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $101.33 on Monday. The company has a 50-day simple moving average of $85.87 and a 200-day simple moving average of $59.84. The company has a market cap of $230.84 billion, a PE ratio of 533.36, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41.

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.