Intellectus Partners LLC Trims Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Intellectus Partners LLC lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,644 shares of the company’s stock after selling 6,250 shares during the period. Palantir Technologies makes up 1.3% of Intellectus Partners LLC’s investment portfolio, making the stock its 12th largest position. Intellectus Partners LLC’s holdings in Palantir Technologies were worth $5,645,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PLTR. Prestige Wealth Management Group LLC increased its stake in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC raised its holdings in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC raised its holdings in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $85.07 on Friday. The stock has a market capitalization of $199.51 billion, a PE ratio of 447.74, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The company has a 50-day simple moving average of $87.31 and a two-hundred day simple moving average of $62.91. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41.

Wall Street Analyst Weigh In

A number of research analysts have commented on PLTR shares. Jefferies Financial Group increased their price target on shares of 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 upped their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Royal Bank of Canada lifted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Bank of America upped their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.79.

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the completion of the sale, the insider now owns 170,273 shares of the company’s stock, valued at $12,681,933.04. This trade represents a 73.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,435,838 shares of company stock valued at $107,260,889. 12.93% of the stock is owned by company insiders.

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.