Palantir Technologies Inc. (NASDAQ:PLTR) Position Trimmed by Lane Generational LLC

Lane Generational LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 16.5% in the 4th quarter, Holdings Channel reports. The firm owned 154,441 shares of the company’s stock after selling 30,518 shares during the period. Palantir Technologies accounts for approximately 11.4% of Lane Generational LLC’s holdings, making the stock its biggest position. Lane Generational LLC’s holdings in Palantir Technologies were worth $11,680,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Mather Group LLC. lifted its stake in shares of Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after acquiring an additional 448 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Palantir Technologies by 60.5% in 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 purchasing an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC bought a new stake in shares of Palantir Technologies in the fourth quarter valued at about $876,000. Destiny Wealth Partners LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth about $3,233,000. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after acquiring an additional 87,062 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLTR. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Jefferies Financial Group raised their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Bank of America lifted 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. Mizuho lifted their price target on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada boosted their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $75.25.

Palantir Technologies Trading Up 2.2 %

NASDAQ:PLTR opened at $78.05 on Wednesday. The firm has a market cap of $183.06 billion, a PE ratio of 410.81, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The stock has a fifty day moving average price of $87.46 and a 200 day moving average price of $64.35. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 6,776 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the sale, the director now directly owns 184,617 shares in the company, valued at $15,993,370.71. This represents a 3.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the sale, the insider now directly owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. This trade represents a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 985,838 shares of company stock worth $75,333,389. Corporate 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.