Palantir Technologies Inc. (NASDAQ:PLTR) Stake Reduced by Archon Partners LLC

Archon Partners LLC reduced its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 19.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,000 shares of the company’s stock after selling 50,000 shares during the quarter. Palantir Technologies accounts for 1.8% of Archon Partners LLC’s portfolio, making the stock its 22nd largest position. Archon Partners LLC’s holdings in Palantir Technologies were worth $15,807,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hsbc Holdings PLC raised its holdings in Palantir Technologies by 16.9% during the 4th quarter. Hsbc Holdings PLC now owns 4,029,743 shares of the company’s stock worth $306,047,000 after buying an additional 583,382 shares during the period. Fayez Sarofim & Co bought a new position in Palantir Technologies during the fourth quarter valued at approximately $226,000. OneDigital Investment Advisors LLC lifted its stake in shares of Palantir Technologies by 5.7% in the 4th quarter. OneDigital Investment Advisors LLC now owns 36,088 shares of the company’s stock valued at $2,729,000 after purchasing an additional 1,942 shares during the last quarter. State of Tennessee Department of Treasury boosted its stake in shares of Palantir Technologies by 62.8% during the 4th quarter. State of Tennessee Department of Treasury now owns 620,501 shares of the company’s stock worth $46,928,000 after acquiring an additional 239,304 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in Palantir Technologies by 28.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 72,314 shares of the company’s stock worth $5,471,000 after purchasing an additional 15,834 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the sale, the director now directly owns 88,129 shares of the company’s stock, valued at approximately $9,059,661.20. This represents a 11.80 % 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 stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,989,975 shares of company stock valued at $253,328,090. 12.93% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLTR. Citigroup upped their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Bank of America lifted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Mizuho boosted their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Loop Capital reissued a “buy” rating on shares of Palantir Technologies in a report on Friday, April 4th. Finally, William Blair set a $84.00 target price on shares of Palantir Technologies in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.71.

Palantir Technologies Trading Down 3.2 %

NASDAQ PLTR opened at $90.80 on Tuesday. The stock has a market cap of $212.96 billion, a PE ratio of 477.92, a PEG ratio of 10.84 and a beta of 2.74. The company’s 50-day moving average price is $90.65 and its 200-day moving average price is $75.61. Palantir Technologies Inc. has a 12 month low of $20.36 and a 12 month high of $125.41.

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.