Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Beacon Capital Management LLC

Beacon Capital Management LLC lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 17.1% during the fourth quarter, HoldingsChannel reports. The firm owned 1,520 shares of the company’s stock after selling 314 shares during the quarter. Beacon Capital Management LLC’s holdings in Palantir Technologies were worth $115,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC lifted its stake in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the fourth quarter worth about $28,000. Finally, Wolff Wiese Magana LLC raised its holdings in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 38,093 shares of Palantir Technologies stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $63.01, for a total value of $2,400,239.93. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $405,296,576.58. The trade was a 0.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,346,976 shares of company stock valued at $642,660,729 in the last ninety days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 1.1 %

PLTR opened at $119.16 on Friday. The business’s fifty day simple moving average is $81.90 and its 200 day simple moving average is $56.56. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $120.67. The firm has a market cap of $271.45 billion, a P/E ratio of 627.19, a PEG ratio of 11.44 and a beta of 2.81.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PLTR shares. Wedbush raised their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. UBS Group upped their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Northland Securities raised their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Finally, Royal Bank of Canada upped their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently 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.