Fagan Associates Inc. Sells 5,494 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Fagan Associates Inc. trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 254,296 shares of the company’s stock after selling 5,494 shares during the period. Palantir Technologies accounts for approximately 3.1% of Fagan Associates Inc.’s investment portfolio, making the stock its 7th biggest position. Fagan Associates Inc.’s holdings in Palantir Technologies were worth $19,232,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PLTR. State Street Corp increased its holdings in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Palantir Technologies by 52.9% in the third 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 last quarter. International Assets Investment Management LLC increased its holdings in shares of Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after purchasing an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in shares of Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. DA Davidson upped their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Wedbush upped their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Robert W. Baird upped their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group upped their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average price target of $69.44.

Palantir Technologies Stock Up 4.6 %

PLTR opened at $124.62 on Wednesday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.00. The company has a 50-day simple moving average of $83.91 and a 200 day simple moving average of $58.13. The stock has a market capitalization of $283.89 billion, a price-to-earnings ratio of 655.93, a P/E/G ratio of 12.25 and a beta of 2.81.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the transaction, the director now owns 111,644 shares of the company’s stock, valued at approximately $7,454,469.88. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This trade represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,301,387 shares of company stock valued at $575,821,045 over the last quarter. 12.93% of the stock is owned by company insiders.

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.