Meitav Investment House Ltd. Sells 16,000 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Meitav Investment House Ltd. trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 45.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,122 shares of the company’s stock after selling 16,000 shares during the quarter. Meitav Investment House Ltd.’s holdings in Palantir Technologies were worth $1,459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PLTR. Allspring Global Investments Holdings LLC grew its stake in Palantir Technologies by 227.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 122,200 shares of the company’s stock valued at $4,546,000 after buying an additional 84,856 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies in the third quarter valued at approximately $25,000. Whittier Trust Co. increased its stake in shares of Palantir Technologies by 1.1% during the third quarter. Whittier Trust Co. now owns 57,526 shares of the company’s stock worth $2,140,000 after purchasing an additional 600 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in Palantir Technologies during the 3rd quarter worth approximately $62,000. Finally, Raleigh Capital Management Inc. boosted its stake in Palantir Technologies by 211.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,971 shares of the company’s stock valued at $73,000 after purchasing an additional 1,339 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander C. Karp sold 1,620,395 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $63.21, for a total value of $102,425,167.95. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $406,583,028.18. This represents a 20.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the transaction, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,301,387 shares of company stock worth $575,821,045. 12.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Jefferies Financial Group raised their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Wedbush boosted their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Bank of America raised their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a 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. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $69.44.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $112.06 on Thursday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The company has a market capitalization of $255.27 billion, a PE ratio of 589.82, a price-to-earnings-growth ratio of 12.81 and a beta of 2.81. The company has a fifty day moving average of $84.70 and a 200-day moving average of $58.51.

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.