Vestcor Inc Trims Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Vestcor Inc trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,496 shares of the company’s stock after selling 1,674 shares during the quarter. Vestcor Inc’s holdings in Palantir Technologies were worth $2,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Mather Group LLC. boosted its stake in Palantir Technologies by 101.4% during the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after purchasing an additional 448 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 worth $460,798,000 after purchasing an additional 4,667,955 shares during the period. Diversify Wealth Management LLC purchased a new stake in Palantir Technologies in the fourth quarter worth about $876,000. Destiny Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at $3,233,000. Finally, Coldstream Capital Management Inc. bought a new position in shares of Palantir Technologies in the third quarter worth about $639,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

PLTR stock opened at $79.62 on Friday. The firm has a market cap of $186.74 billion, a P/E ratio of 419.07, a PEG ratio of 10.84 and a beta of 2.81. The stock’s 50 day moving average price is $87.71 and its 200 day moving average price is $64.59. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 170,273 shares in the company, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 569,785 shares of company stock valued at $44,474,738 over the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Northland Securities boosted their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. Citigroup increased their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Mizuho upped their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Robert W. Baird raised their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Company 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.