Principle Wealth Partners LLC Sells 9,111 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Principle Wealth Partners LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 42.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,289 shares of the company’s stock after selling 9,111 shares during the period. Principle Wealth Partners LLC’s holdings in Palantir Technologies were worth $929,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Equitable Trust Co. bought a new position in shares of Palantir Technologies in the 4th quarter worth $244,000. Global Wealth Management Investment Advisory Inc. bought a new position in Palantir Technologies in the fourth quarter worth about $285,000. Soltis Investment Advisors LLC lifted its position in shares of Palantir Technologies by 23.0% during the fourth quarter. Soltis Investment Advisors LLC now owns 9,756 shares of the company’s stock valued at $738,000 after buying an additional 1,823 shares during the last quarter. Elevation Wealth Partners LLC lifted its position in shares of Palantir Technologies by 64.3% during the fourth quarter. Elevation Wealth Partners LLC now owns 511 shares of the company’s stock valued at $39,000 after buying an additional 200 shares during the last quarter. Finally, Savant Capital LLC boosted its holdings in shares of Palantir Technologies by 87.0% in the 4th quarter. Savant Capital LLC now owns 19,722 shares of the company’s stock valued at $1,492,000 after buying an additional 9,173 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This trade represents a 87.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. This trade represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,656,687 shares of company stock worth $1,040,105,687. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $116.65 on Tuesday. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $116.76. The company has a market capitalization of $265.73 billion, a PE ratio of 613.98, a P/E/G ratio of 11.44 and a beta of 2.81. The company has a fifty day moving average of $77.34 and a 200 day moving average of $53.60.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PLTR shares. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Northland Securities increased their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Citigroup raised their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Robert W. Baird increased their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Wedbush raised their price target on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $69.44.

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.