Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 50.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the company’s stock after selling 7,000 shares during the period. LGT Fund Management Co Ltd.’s holdings in Palantir Technologies were worth $529,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mather Group LLC. grew its stake in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after acquiring an additional 448 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $876,000. Destiny Wealth Partners LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $3,233,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Wedbush reaffirmed an “outperform” rating and set a $120.00 price target on shares of Palantir Technologies in a research note on Monday. UBS Group lifted their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Royal Bank of Canada lifted their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, Bank of America lifted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.79.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the sale, the insider now directly owns 170,273 shares of the company’s stock, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,439,783 shares of company stock valued at $107,497,043 in the last quarter. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Down 1.8 %

Shares of NASDAQ:PLTR opened at $83.42 on Tuesday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The firm has a 50-day simple moving average of $87.14 and a 200 day simple moving average of $62.23. The company has a market cap of $190.03 billion, a PE ratio of 439.08, a P/E/G ratio of 10.84 and a beta of 2.81.

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.