Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Straight Path Wealth Management

Straight Path Wealth Management decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,771 shares of the company’s stock after selling 2,832 shares during the period. Palantir Technologies accounts for approximately 1.0% of Straight Path Wealth Management’s portfolio, making the stock its 15th biggest holding. Straight Path Wealth Management’s holdings in Palantir Technologies were worth $2,403,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its position in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC grew its stake in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after purchasing an additional 808,444 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Palantir Technologies by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock valued at $986,431,000 after purchasing an additional 655,815 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Palantir Technologies by 10.9% in the 4th quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock valued at $971,367,000 after purchasing an additional 1,262,479 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction on 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the completion of the transaction, the insider now directly owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. This trade represents a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,439,783 shares of company stock worth $107,497,043. 12.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PLTR shares. UBS Group lifted their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Mizuho lifted their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Bank of America lifted their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Northland Securities lifted their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Finally, Citigroup lifted their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $74.79.

Palantir Technologies Stock Performance

PLTR opened at $90.13 on Thursday. The business’s fifty day moving average is $87.34 and its two-hundred day moving average is $62.79. The company has a market cap of $211.39 billion, a price-to-earnings ratio of 474.39, a PEG 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.

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.