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

Lodestone Wealth Management LLC trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 6.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,853 shares of the company’s stock after selling 643 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Palantir Technologies were worth $670,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PLTR. State Street Corp raised its holdings 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 acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 acquiring an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after acquiring an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after acquiring an additional 2,984,348 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PLTR shares. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. UBS Group upped their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Robert W. Baird upped their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Bank of America upped their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $69.44.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alexander C. Karp sold 1,007,496 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $63.96, for a total value of $64,439,444.16. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $411,407,221.68. This represents a 13.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,346,976 shares of company stock valued at $642,660,729 over the last quarter. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $119.16 on Friday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $120.67. The business has a 50-day moving average of $81.90 and a 200-day moving average of $56.35. The company has a market capitalization of $271.45 billion, a price-to-earnings ratio of 627.19, a PEG ratio of 11.44 and a beta of 2.81.

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.