GraniteShares Advisors LLC Sells 14,666 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

GraniteShares Advisors LLC cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 42.3% during the 4th quarter, Holdings Channel reports. The firm owned 19,983 shares of the company’s stock after selling 14,666 shares during the quarter. GraniteShares Advisors LLC’s holdings in Palantir Technologies were worth $1,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of PLTR. State Street Corp increased its stake in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Palantir Technologies by 943.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after purchasing an additional 2,984,348 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Palantir Technologies by 226.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock worth $105,636,000 after purchasing an additional 1,969,213 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Heather A. Planishek sold 18,537 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $102.32, for a total transaction of $1,896,705.84. Following the sale, the insider now directly owns 493,469 shares of the company’s stock, valued at approximately $50,491,748.08. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,719,783 shares of company stock valued at $477,414,743 in the last quarter. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Down 3.1 %

NASDAQ PLTR opened at $87.84 on Wednesday. The company has a market capitalization of $200.10 billion, a P/E ratio of 462.34, a P/E/G 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. The firm has a 50-day moving average price of $86.44 and a two-hundred day moving average price of $60.68.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Bank of America lifted their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, DA Davidson lifted 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. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $73.21.

Palantir Technologies 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.