Fairfield Bush & CO. Decreases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Fairfield Bush & CO. lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,934 shares of the company’s stock after selling 156 shares during the period. Fairfield Bush & CO.’s holdings in Palantir Technologies were worth $751,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board lifted its stake in shares of Palantir Technologies by 98.4% during the fourth quarter. Canada Pension Plan Investment Board now owns 3,119,241 shares of the company’s stock worth $235,908,000 after buying an additional 1,546,825 shares during the period. Zacks Investment Management lifted its position in Palantir Technologies by 76.4% during the 4th quarter. Zacks Investment Management now owns 383,674 shares of the company’s stock worth $29,017,000 after acquiring an additional 166,138 shares during the period. NewEdge Advisors LLC grew its stake in Palantir Technologies by 2.9% during the 4th quarter. NewEdge Advisors LLC now owns 623,721 shares of the company’s stock valued at $45,704,000 after purchasing an additional 17,622 shares during the last quarter. Iron Gate Global Advisors LLC acquired a new position in shares of Palantir Technologies in the fourth quarter valued at about $1,535,000. Finally, Insigneo Advisory Services LLC raised its stake in shares of Palantir Technologies by 80.7% in the fourth quarter. Insigneo Advisory Services LLC now owns 40,656 shares of the company’s stock worth $3,075,000 after purchasing an additional 18,159 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other news, insider Heather A. Planishek sold 18,537 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $102.32, for a total value of $1,896,705.84. Following the transaction, the insider now directly owns 493,469 shares of the company’s stock, valued at approximately $50,491,748.08. This trade represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 88,129 shares in the company, valued at $9,059,661.20. This trade represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,989,975 shares of company stock valued at $253,328,090. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Down 5.8 %

PLTR opened at $92.71 on Thursday. The company has a market cap of $217.44 billion, a price-to-earnings ratio of 487.97, a PEG ratio of 10.84 and a beta of 2.74. The firm’s fifty day simple moving average is $92.01 and its two-hundred day simple moving average is $73.96. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PLTR shares. Mizuho increased their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Wedbush reiterated an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. UBS Group boosted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Royal Bank of Canada lifted their price objective on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.71.

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.