Platform Technology Partners Sells 223 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Platform Technology Partners trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,377 shares of the company’s stock after selling 223 shares during the period. Platform Technology Partners’ holdings in Palantir Technologies were worth $407,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tritonpoint Wealth LLC increased its stake in shares of Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after buying an additional 132 shares during the period. Kennebec Savings Bank boosted its holdings in Palantir Technologies by 29.5% in the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after acquiring an additional 159 shares during the last quarter. RMR Wealth Builders increased its position in Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after purchasing an additional 167 shares during the period. Bay Rivers Group raised its holdings in Palantir Technologies by 2.7% during the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after purchasing an additional 171 shares during the last quarter. Finally, Christensen King & Associates Investment Services Inc. lifted its position in Palantir Technologies by 3.0% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock valued at $486,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $66.59, for a total value of $1,997,700.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at $50,128,019.74. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 38,093 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $405,296,576.58. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,656,687 shares of company stock valued at $1,040,105,687. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Down 0.4 %

Shares of PLTR stock opened at $110.85 on Friday. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $116.30. The firm has a fifty day moving average of $76.46 and a 200-day moving average of $52.67. The company has a market capitalization of $252.52 billion, a price-to-earnings ratio of 554.28, a P/E/G ratio of 7.54 and a beta of 2.81.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday. Mizuho upped their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Northland Securities raised their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $69.44.

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.