Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Destination Wealth Management

Destination Wealth Management trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 92.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,379 shares of the company’s stock after selling 43,803 shares during the period. Destination Wealth Management’s holdings in Palantir Technologies were worth $256,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Westover Capital Advisors LLC grew its position in Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after buying an additional 130 shares in the last quarter. Tritonpoint Wealth LLC grew its position in Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after buying an additional 132 shares in the last quarter. Twin Peaks Wealth Advisors LLC grew its position in Palantir Technologies by 2.2% in the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock valued at $493,000 after buying an additional 139 shares in the last quarter. Kennebec Savings Bank grew its position in Palantir Technologies by 29.5% in the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after buying an additional 159 shares in the last quarter. Finally, HighMark Wealth Management LLC grew its position in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the transaction, the insider now owns 702,786 shares in the company, valued at approximately $64,958,509.98. This represents a 4.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 416,053 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at $43,908.64. This represents a 99.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,435,838 shares of company stock valued at $107,260,889 over the last three months. 12.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLTR. UBS Group increased their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Loop Capital assumed coverage on shares of Palantir Technologies in a research report on Thursday, February 20th. They set a “buy” rating and a $141.00 price objective for the company. Jefferies Financial Group raised their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Northland Securities raised their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Finally, Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $74.79.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $85.07 on Friday. The company has a 50 day simple moving average of $87.31 and a 200-day simple moving average of $62.91. The firm has a market capitalization of $199.51 billion, a price-to-earnings ratio of 447.74, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41.

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.