Canvas Wealth Advisors LLC Sells 10,305 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Canvas Wealth Advisors LLC lowered its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,033 shares of the company’s stock after selling 10,305 shares during the quarter. Palantir Technologies comprises about 2.7% of Canvas Wealth Advisors LLC’s investment portfolio, making the stock its 13th biggest position. Canvas Wealth Advisors LLC’s holdings in Palantir Technologies were worth $10,591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mather Group LLC. lifted its position in shares of Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after buying an additional 448 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 valued at $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in Palantir Technologies in the 4th quarter worth approximately $876,000. Destiny Wealth Partners LLC bought a new stake in Palantir Technologies during the fourth quarter worth approximately $3,233,000. Finally, State of Alaska Department of Revenue grew its holdings in Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 38,093 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $405,296,576.58. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 592 shares in the company, 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. In the last ninety days, insiders sold 15,656,687 shares of company stock valued at $1,040,105,687. Corporate insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Northland Securities lifted their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Wedbush lifted their price objective on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, 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 report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Stock Down 0.4 %

Shares of PLTR opened at $110.85 on Monday. The company has a 50-day moving average price of $77.34 and a two-hundred day moving average price of $53.42. The stock has a market cap of $252.52 billion, a price-to-earnings ratio of 583.45, a P/E/G ratio of 11.44 and a beta of 2.81. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $116.30.

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.