Stephens Investment Management Group LLC Cuts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Stephens Investment Management Group LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 20.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 560,021 shares of the company’s stock after selling 140,797 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Palantir Technologies were worth $42,354,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PLTR. Tritonpoint Wealth LLC raised its stake in shares of Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after buying an additional 132 shares in the last quarter. Kennebec Savings Bank boosted its position in shares of Palantir Technologies by 29.5% during the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after purchasing an additional 159 shares in the last quarter. RMR Wealth Builders grew its stake in shares of Palantir Technologies by 2.4% during the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after purchasing an additional 167 shares during the period. Bay Rivers Group increased its holdings in shares of Palantir Technologies by 2.7% in the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after purchasing an additional 171 shares in the last quarter. Finally, Christensen King & Associates Investment Services Inc. boosted its holdings in Palantir Technologies by 3.0% during the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after buying an additional 174 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Mizuho upped their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Finally, Wedbush increased their target price on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Six 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’s stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $69.44.

Palantir Technologies Stock Down 0.4 %

PLTR stock opened at $110.85 on Friday. The company has a market cap of $252.52 billion, a price-to-earnings ratio of 583.45, a PEG ratio of 11.44 and a beta of 2.81. The business has a fifty day simple moving average of $77.34 and a 200-day simple moving average of $53.24. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $116.30.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the sale, the director now directly owns 88,129 shares of the company’s stock, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,656,687 shares of company stock valued at $1,040,105,687. Company 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.