Van Cleef Asset Management Inc Sells 4,546 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Van Cleef Asset Management Inc cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 692,578 shares of the company’s stock after selling 4,546 shares during the quarter. Palantir Technologies accounts for 5.7% of Van Cleef Asset Management Inc’s portfolio, making the stock its 5th largest position. Van Cleef Asset Management Inc’s holdings in Palantir Technologies were worth $52,380,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Schulhoff & Co. Inc. acquired a new position in Palantir Technologies in the 4th quarter worth approximately $329,000. First Command Advisory Services Inc. acquired a new stake in shares of Palantir Technologies in the fourth quarter worth $34,000. Proficio Capital Partners LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at $39,507,000. WT Wealth Management acquired a new position in Palantir Technologies during the fourth quarter valued at $251,000. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new stake in Palantir Technologies in the 4th quarter worth about $949,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $84.77 on Friday. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The firm has a market capitalization of $193.11 billion, a PE ratio of 446.18, a PEG ratio of 10.84 and a beta of 2.81. The business’s 50-day simple moving average is $87.00 and its 200-day simple moving average is $61.04.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Robert W. Baird upped their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. DA Davidson increased their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Mizuho boosted 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. Loop Capital began coverage on Palantir Technologies in a report on Thursday, February 20th. They set a “buy” rating and a $141.00 price objective for the company. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $73.21.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $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. Insiders have sold a total of 6,689,783 shares of company stock valued at $475,417,043 in the last three months. Company insiders own 12.93% of the company’s stock.

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.