Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 14.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,544 shares of the company’s stock after selling 17,911 shares during the quarter. Moors & Cabot Inc.’s holdings in Palantir Technologies were worth $8,209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PLTR. State Street Corp increased its position in Palantir Technologies by 96.4% in 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 lifted its position 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 worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 buying an additional 4,667,955 shares during the period. Lord Abbett & CO. LLC increased its holdings in Palantir Technologies by 943.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. Finally, Amundi increased its holdings in Palantir Technologies by 62.7% during the 4th quarter. Amundi now owns 6,804,915 shares of the company’s stock valued at $514,656,000 after purchasing an additional 2,623,524 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 416,053 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $43,908.64. This represents a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 985,838 shares of company stock worth $75,333,389. 12.93% of the stock is owned by company insiders.

Palantir Technologies Trading Up 2.2 %

NASDAQ:PLTR opened at $78.05 on Wednesday. The firm has a market capitalization of $183.06 billion, a price-to-earnings ratio of 410.81, a PEG ratio of 10.84 and a beta of 2.81. The business’s 50-day moving average price is $87.46 and its two-hundred day moving average price is $64.35. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. William Blair set a $84.00 target price on Palantir Technologies in a report on Wednesday, March 5th. Jefferies Financial Group upped their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Northland Securities boosted their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Bank of America upped their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Finally, Citigroup boosted their price target 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 research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $75.25.

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.