Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 21.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 481,288 shares of the company’s stock after selling 134,115 shares during the quarter. Palantir Technologies makes up 0.8% of Parallel Advisors LLC’s portfolio, making the stock its 20th biggest holding. Parallel Advisors LLC’s holdings in Palantir Technologies were worth $36,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PLTR. State Street Corp raised its holdings in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 52.9% in the third 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 last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after acquiring an additional 2,984,348 shares during the last quarter. Finally, Amundi raised its holdings in shares of Palantir Technologies by 62.7% in the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock worth $514,656,000 after acquiring an additional 2,623,524 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $86.24 on Monday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The business has a 50-day moving average of $87.83 and a 200-day moving average of $65.46. The company has a market capitalization of $202.26 billion, a price-to-earnings ratio of 453.92, a PEG ratio of 10.84 and a beta of 2.81.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,069,785 shares of company stock valued at $254,537,238 over the last quarter. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. UBS Group lifted their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Loop Capital lowered their price objective on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday. Mizuho lifted their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Finally, William Blair set a $84.00 price objective on Palantir Technologies in a research report on Wednesday, March 5th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $74.45.

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.