Fortis Capital Advisors LLC Has $2.40 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Fortis Capital Advisors LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 19.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 31,787 shares of the company’s stock after selling 7,439 shares during the period. Palantir Technologies accounts for 0.8% of Fortis Capital Advisors LLC’s portfolio, making the stock its 18th biggest position. Fortis Capital Advisors LLC’s holdings in Palantir Technologies were worth $2,404,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at $27,000. First PREMIER Bank acquired a new position in Palantir Technologies in the fourth quarter valued at $28,000. Wolff Wiese Magana LLC boosted its position in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. HighMark Wealth Management LLC grew 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 acquiring an additional 166 shares during the period. Finally, Sierra Ocean LLC bought a new position in shares of Palantir Technologies in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America raised their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Citigroup raised their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Royal Bank of Canada boosted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Jefferies Financial Group raised their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, Loop Capital reiterated a “buy” rating on shares of Palantir Technologies in a report on Friday, April 4th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $75.19.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $88.55 on Friday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The company has a market cap of $207.68 billion, a P/E ratio of 466.08, a P/E/G ratio of 10.84 and a beta of 2.74. The firm has a 50-day moving average of $92.81 and a 200-day moving average of $73.02.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at $48,988. The trade was a 99.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,989,975 shares of company stock worth $253,328,090. Insiders own 12.93% of the company’s stock.

Palantir Technologies 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.