Optimum Investment Advisors Sells 2,900 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Optimum Investment Advisors lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 13.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 18,502 shares of the company’s stock after selling 2,900 shares during the period. Optimum Investment Advisors’ holdings in Palantir Technologies were worth $1,399,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Prestige Wealth Management Group LLC lifted its holdings in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Palantir Technologies in the 4th quarter valued at $27,000. First PREMIER Bank bought a new position in Palantir Technologies during the 4th quarter valued at $28,000. Wolff Wiese Magana LLC boosted its holdings in 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 acquiring an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC grew its stake in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PLTR shares. Jefferies Financial Group raised their price target 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. Wedbush restated an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a research note on Monday, March 3rd. Robert W. Baird increased their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada raised their target price on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $74.45.

Palantir Technologies Trading Up 4.1 %

Palantir Technologies stock opened at $90.96 on Friday. The firm has a 50 day simple moving average of $89.55 and a 200 day simple moving average of $67.18. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The firm has a market capitalization of $213.33 billion, a price-to-earnings ratio of 478.76, a P/E/G ratio of 10.84 and a beta of 2.81.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 6,776 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the sale, the director now directly owns 184,617 shares of the company’s stock, valued at approximately $15,993,370.71. This represents a 3.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 310,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $51,545.44. This represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,379,785 shares of company stock valued at $281,528,938 over the last three months. Company 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.