Intelligence Driven Advisers LLC Has $520,000 Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Intelligence Driven Advisers LLC reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 8.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,871 shares of the company’s stock after selling 654 shares during the quarter. Intelligence Driven Advisers LLC’s holdings in Palantir Technologies were worth $520,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLTR. First PREMIER Bank acquired a new stake in Palantir Technologies during the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC boosted its holdings in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $33,000. Elevation Wealth Partners LLC increased its stake in shares of Palantir Technologies by 64.3% in the 4th quarter. Elevation Wealth Partners LLC now owns 511 shares of the company’s stock valued at $39,000 after acquiring an additional 200 shares in the last quarter. Finally, Valley National Advisers Inc. increased its stake in shares of Palantir Technologies by 181.3% in the 4th quarter. Valley National Advisers Inc. now owns 512 shares of the company’s stock valued at $38,000 after acquiring an additional 330 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PLTR shares. Jefferies Financial Group increased their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Mizuho increased their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Northland Securities raised their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. UBS Group upped their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $69.44.

Palantir Technologies Price Performance

PLTR opened at $117.39 on Thursday. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $118.66. The company has a market capitalization of $267.42 billion, a price-to-earnings ratio of 617.87, a P/E/G ratio of 11.44 and a beta of 2.81. The firm’s fifty day moving average price is $80.12 and its two-hundred day moving average price is $55.28.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $66.77, for a total transaction of $650,740.42. Following the completion of the sale, the director now directly owns 111,644 shares of the company’s stock, valued at $7,454,469.88. This trade represents a 8.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $405,875,479.80. This trade represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,833,085 shares of company stock worth $924,999,929 over the last quarter. 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.