Gladstone Institutional Advisory LLC Lowers Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Gladstone Institutional Advisory LLC trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 35.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 59,519 shares of the company’s stock after selling 32,410 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Palantir Technologies were worth $4,501,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies during the 3rd quarter worth $25,000. Prestige Wealth Management Group LLC raised its holdings in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares in the last quarter. First PREMIER Bank purchased a new position in shares of Palantir Technologies during the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC boosted its stake in shares of Palantir Technologies by 230.4% in the fourth 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, R Squared Ltd acquired a new stake in Palantir Technologies in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies 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 transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the sale, the director now directly owns 88,129 shares of the company’s stock, valued at $9,059,661.20. The trade was a 11.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,833,085 shares of company stock worth $924,999,929 in the last ninety days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

PLTR opened at $112.62 on Wednesday. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $118.66. The company’s 50 day simple moving average is $78.34 and its 200 day simple moving average is $54.24. The stock has a market capitalization of $256.55 billion, a PE ratio of 592.77, a P/E/G ratio of 11.44 and a beta of 2.81.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent analyst reports. Northland Securities upped their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Robert W. Baird upped their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald raised their price target on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $69.44.

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.