Zurcher Kantonalbank Zurich Cantonalbank Cuts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 457,274 shares of the company’s stock after selling 2,220 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Palantir Technologies were worth $34,584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PLTR. Verdence Capital Advisors LLC increased its stake in shares of Palantir Technologies by 15.3% during the third quarter. Verdence Capital Advisors LLC now owns 11,175 shares of the company’s stock worth $416,000 after purchasing an additional 1,487 shares in the last quarter. Atria Investments Inc grew its stake in Palantir Technologies by 7.5% during the 3rd quarter. Atria Investments Inc now owns 55,014 shares of the company’s stock valued at $2,047,000 after acquiring an additional 3,835 shares in the last quarter. Sheets Smith Wealth Management purchased a new stake in Palantir Technologies during the 3rd quarter valued at about $332,000. XML Financial LLC purchased a new stake in Palantir Technologies during the 3rd quarter valued at about $245,000. Finally, Sigma Planning Corp grew its stake in Palantir Technologies by 11.1% during the 3rd quarter. Sigma Planning Corp now owns 67,373 shares of the company’s stock valued at $2,506,000 after acquiring an additional 6,732 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now owns 62,139 shares of the company’s stock, 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. In the last three months, insiders sold 1,435,838 shares of company stock worth $107,260,889. 12.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Northland Securities upped their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Mizuho upped their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. 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 report on Tuesday, February 4th. William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. Finally, Jefferies Financial Group boosted their target price 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. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $75.25.

Palantir Technologies Stock Down 10.0 %

Shares of NASDAQ PLTR opened at $76.38 on Tuesday. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The firm has a 50-day moving average price of $87.41 and a 200 day moving average price of $64.03. The stock has a market capitalization of $179.14 billion, a price-to-earnings ratio of 402.02, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Palantir Technologies Company Profile

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.