Massachusetts Financial Services Co. MA Lowers Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Massachusetts Financial Services Co. MA trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 44.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 507,866 shares of the company’s stock after selling 403,538 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Palantir Technologies were worth $38,410,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Roxbury Financial LLC acquired a new stake in Palantir Technologies during the 4th quarter worth approximately $27,000. First PREMIER Bank purchased a new position in Palantir Technologies in the 4th quarter valued at $28,000. Wolff Wiese Magana LLC increased its stake in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the period. HighMark Wealth Management LLC raised its position in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $31,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. William Blair set a $84.00 price target on Palantir Technologies in a report on Wednesday, March 5th. Bank of America upped their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. UBS Group increased their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Mizuho boosted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $75.19.

Palantir Technologies Trading Down 11.5 %

Palantir Technologies stock opened at $74.01 on Friday. The firm has a market capitalization of $173.58 billion, a P/E ratio of 389.55, a PEG ratio of 10.84 and a beta of 2.74. The stock has a fifty day moving average price of $92.67 and a 200 day moving average price of $70.93. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41.

Insider Buying and Selling

In other news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now owns 403,171 shares of the company’s stock, valued at $33,382,558.80. The trade was a 19.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,993,175 shares of company stock valued at $253,549,610. Insiders own 12.93% of the company’s stock.

Palantir Technologies 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.