Wealth Architects LLC Trims Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Wealth Architects LLC reduced its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.4% during the 4th quarter, Holdings Channel reports. The fund owned 31,292 shares of the company’s stock after selling 452 shares during the period. Wealth Architects LLC’s holdings in Palantir Technologies were worth $2,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Palantir Technologies by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock valued at $986,431,000 after purchasing an additional 655,815 shares during the period. Bank of New York Mellon Corp boosted its holdings in Palantir Technologies by 10.9% during the fourth quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock worth $971,367,000 after buying an additional 1,262,479 shares in the last quarter. Finally, FMR LLC grew its position in Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PLTR. UBS Group increased their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Northland Securities increased their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Wedbush reaffirmed an “outperform” rating and set a $120.00 target price on shares of Palantir Technologies in a research note on Monday, March 3rd. DA Davidson lifted their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, William Blair set a $84.00 price target on shares of Palantir Technologies in a report on Wednesday, March 5th. Five equities research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $74.45.

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This represents a 99.95 % decrease in their position. The transaction 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 business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,069,785 shares of company stock valued at $254,537,238. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Up 8.3 %

Shares of PLTR opened at $86.24 on Monday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The stock has a fifty day simple moving average of $87.83 and a two-hundred day simple moving average of $65.46. The company has a market capitalization of $202.26 billion, a PE ratio of 453.92, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

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.