Canton Hathaway LLC Lowers Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Canton Hathaway LLC decreased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 75.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,150 shares of the company’s stock after selling 3,550 shares during the quarter. Canton Hathaway LLC’s holdings in Palantir Technologies were worth $87,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its stake in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after buying an additional 808,444 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Palantir Technologies by 10.9% in the fourth quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock worth $971,367,000 after buying an additional 1,262,479 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after buying an additional 1,004,603 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America increased their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. The Goldman Sachs Group increased their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Robert W. Baird increased their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Northland Securities increased their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $73.21.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 directly owns 592 shares in the company, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 30,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $66.59, for a total value of $1,997,700.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $50,128,019.74. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,719,783 shares of company stock valued at $477,414,743. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $90.68 on Tuesday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The stock has a market cap of $206.57 billion, a PE ratio of 477.29, a P/E/G ratio of 10.84 and a beta of 2.81. The stock has a 50 day moving average price of $86.17 and a 200 day moving average price of $60.27.

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.