Oppenheimer & Co. Inc. Cuts Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Oppenheimer & Co. Inc. trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 533,000 shares of the company’s stock after selling 8,567 shares during the period. Palantir Technologies comprises approximately 0.6% of Oppenheimer & Co. Inc.’s portfolio, making the stock its 20th largest position. Oppenheimer & Co. Inc.’s holdings in Palantir Technologies were worth $40,311,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PLTR. State Street Corp raised its stake in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC grew its holdings in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% during 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 buying an additional 4,667,955 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after buying an additional 2,984,348 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Palantir Technologies by 226.2% during the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after buying an additional 1,969,213 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 30,000 shares of Palantir Technologies stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the completion of the transaction, the insider now directly owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. The trade was a 4.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 18,537 shares of Palantir Technologies stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $102.32, for a total transaction of $1,896,705.84. Following the transaction, the insider now directly owns 493,469 shares of the company’s stock, valued at approximately $50,491,748.08. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,719,783 shares of company stock valued at $477,414,743. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 1.7 %

Shares of NASDAQ:PLTR opened at $89.31 on Thursday. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The stock has a market capitalization of $203.45 billion, a P/E ratio of 470.08, a PEG ratio of 10.84 and a beta of 2.81. The firm has a fifty day simple moving average of $86.79 and a two-hundred day simple moving average of $60.88.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Royal Bank of Canada raised their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Wedbush lifted their price target 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. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus price target of $73.21.

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.