Capital Investment Counsel Inc Sells 13,000 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Capital Investment Counsel Inc cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,385 shares of the company’s stock after selling 13,000 shares during the period. Palantir Technologies makes up approximately 1.2% of Capital Investment Counsel Inc’s investment portfolio, making the stock its 13th largest holding. Capital Investment Counsel Inc’s holdings in Palantir Technologies were worth $8,046,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. lifted its holdings in Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after acquiring an additional 448 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 valued at $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC bought a new stake in shares of Palantir Technologies in the fourth quarter valued at about $876,000. Destiny Wealth Partners LLC bought a new stake in shares of Palantir Technologies in the fourth quarter valued at about $3,233,000. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $66.77, for a total value of $650,740.42. Following the transaction, the director now owns 111,644 shares of the company’s stock, valued at approximately $7,454,469.88. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,680,992 shares of company stock valued at $473,395,877. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Down 5.2 %

Shares of NASDAQ PLTR opened at $106.27 on Friday. The business’s 50 day moving average price is $85.36 and its two-hundred day moving average price is $58.84. The company has a market cap of $242.09 billion, a PE ratio of 559.35, a price-to-earnings-growth ratio of 11.52 and a beta of 2.81. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41.

Analysts Set New Price Targets

A number of brokerages have recently commented on PLTR. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America boosted their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. DA Davidson lifted their target price on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.21.

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.