Pacific Heights Asset Management LLC Sells 1,440,000 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Pacific Heights Asset Management LLC reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 91.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 135,000 shares of the company’s stock after selling 1,440,000 shares during the quarter. Pacific Heights Asset Management LLC’s holdings in Palantir Technologies were worth $10,210,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PLTR. Andra AP fonden bought a new position in Palantir Technologies in the 4th quarter valued at about $454,000. West Family Investments Inc. bought a new position in shares of Palantir Technologies during the fourth quarter worth approximately $376,000. Blue Bell Private Wealth Management LLC lifted its holdings in Palantir Technologies by 80.9% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 756 shares of the company’s stock worth $57,000 after purchasing an additional 338 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in Palantir Technologies by 56.2% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 36,164 shares of the company’s stock worth $2,735,000 after purchasing an additional 13,013 shares during the last quarter. Finally, Callan Family Office LLC acquired a new position in shares of Palantir Technologies in the fourth quarter valued at about $1,377,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PLTR. William Blair upgraded shares of Palantir Technologies from an “underperform” rating to a “market perform” rating in a research note on Wednesday. Citigroup lifted their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Jefferies Financial Group raised their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Finally, Robert W. Baird boosted their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $74.79.

Palantir Technologies Stock Down 10.7 %

NASDAQ PLTR opened at $80.46 on Friday. The company has a market capitalization of $188.71 billion, a price-to-earnings ratio of 423.50, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The stock has a fifty day simple moving average of $87.31 and a 200 day simple moving average of $62.91.

Insider Buying and Selling at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 416,053 shares of Palantir Technologies stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $43,908.64. The trade was a 99.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.43, for a total value of $2,772,900.00. Following the completion of the sale, the insider now owns 702,786 shares in the company, valued at $64,958,509.98. The trade was a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,429,062 shares of company stock worth $106,673,884. Insiders own 12.93% of the company’s stock.

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.