Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Longitude Cayman Ltd.

Longitude Cayman Ltd. trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 68.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,000 shares of the company’s stock after selling 195,125 shares during the quarter. Palantir Technologies makes up approximately 1.5% of Longitude Cayman Ltd.’s investment portfolio, making the stock its 17th largest position. Longitude Cayman Ltd.’s holdings in Palantir Technologies were worth $6,958,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies during the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its holdings in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares in the last quarter. First PREMIER Bank purchased a new stake in Palantir Technologies in the 4th quarter valued at $28,000. Wolff Wiese Magana LLC grew its holdings in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Palantir Technologies in the 4th quarter valued at $33,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total value of $1,212,423.20. Following the transaction, the director now owns 88,129 shares in the company, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 450,000 shares of the 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 owns 592 shares in the company, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,656,687 shares of company stock valued at $1,040,105,687 in the last quarter. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the subject of several analyst reports. Jefferies Financial Group upped their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Citigroup upped their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Finally, The Goldman Sachs Group upped their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Six investment 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Trading Up 5.2 %

PLTR opened at $116.65 on Tuesday. The firm has a market cap of $265.73 billion, a price-to-earnings ratio of 613.98, a PEG ratio of 11.44 and a beta of 2.81. The stock’s 50-day moving average price is $77.34 and its 200 day moving average price is $53.60. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $116.76.

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.