Meridian Investment Counsel Inc. Cuts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Meridian Investment Counsel Inc. reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 12.4% during the 4th quarter, HoldingsChannel reports. The fund owned 57,600 shares of the company’s stock after selling 8,120 shares during the period. Palantir Technologies accounts for about 1.3% of Meridian Investment Counsel Inc.’s holdings, making the stock its 15th largest position. Meridian Investment Counsel Inc.’s holdings in Palantir Technologies were worth $4,356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PLTR. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies during the fourth quarter worth approximately $27,000. First PREMIER Bank bought a new position in Palantir Technologies in the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC increased 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 purchasing an additional 265 shares during the period. HighMark Wealth Management LLC increased its holdings in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares during the period. Finally, Sierra Ocean LLC bought a new stake in Palantir Technologies during the 4th quarter valued at $31,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 483,987 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the sale, the insider now directly owns 170,273 shares of the company’s stock, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 310,000 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $51,545.44. This trade represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wedbush restated an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a report on Monday, March 3rd. UBS Group lifted their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald increased their target price 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. DA Davidson upped their price target on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group raised their price objective on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $74.45.

Palantir Technologies Stock Down 4.7 %

Shares of PLTR stock opened at $85.85 on Monday. The stock has a market cap of $201.35 billion, a PE ratio of 451.87, 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. The business has a 50-day simple moving average of $91.98 and a 200-day simple moving average of $69.53.

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.