Ithaka Group LLC Has $6.62 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Ithaka Group LLC trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 24.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 87,549 shares of the company’s stock after selling 27,816 shares during the quarter. Palantir Technologies accounts for about 1.2% of Ithaka Group LLC’s holdings, making the stock its 28th largest position. Ithaka Group LLC’s holdings in Palantir Technologies were worth $6,621,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PLTR. Commonwealth Equity Services LLC increased its position in shares of Palantir Technologies by 9.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 1,597,201 shares of the company’s stock worth $120,796,000 after purchasing an additional 143,626 shares in the last quarter. DecisionMap Wealth Management LLC acquired a new position in Palantir Technologies in the fourth quarter valued at about $240,000. PGGM Investments grew its stake in Palantir Technologies by 782.8% during the fourth quarter. PGGM Investments now owns 190,416 shares of the company’s stock worth $14,401,000 after buying an additional 168,846 shares during the last quarter. HBK Sorce Advisory LLC raised its stake in shares of Palantir Technologies by 8.3% in the fourth quarter. HBK Sorce Advisory LLC now owns 46,394 shares of the company’s stock valued at $3,509,000 after acquiring an additional 3,558 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Palantir Technologies in the 4th quarter worth approximately $386,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research analyst reports. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Northland Securities raised their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Wedbush reaffirmed an “outperform” rating and set a $120.00 target price on shares of Palantir Technologies in a report on Monday, March 3rd. Robert W. Baird upped their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Five investment 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $75.25.

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 483,987 shares of Palantir Technologies stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the sale, the insider now directly owns 170,273 shares in the company, valued at approximately $12,681,933.04. The trade was a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now owns 62,139 shares in the company, valued at $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 985,838 shares of company stock worth $75,333,389 in the last 90 days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $83.65 on Thursday. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The stock has a market capitalization of $196.19 billion, a price-to-earnings ratio of 440.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The company’s 50 day simple moving average is $87.62 and its 200 day simple moving average is $64.49.

About Palantir Technologies

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.