BayBridge Capital Group LLC Cuts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

BayBridge Capital Group LLC cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 39.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,630 shares of the company’s stock after selling 8,326 shares during the quarter. BayBridge Capital Group LLC’s holdings in Palantir Technologies were worth $955,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Clientfirst Wealth Management LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $446,000. Quattro Financial Advisors LLC increased its position in shares of Palantir Technologies by 12.9% in the fourth quarter. Quattro Financial Advisors LLC now owns 28,220 shares of the company’s stock valued at $2,129,000 after acquiring an additional 3,220 shares during the period. Conning Inc. bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $673,000. Clarity Wealth Advisors LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $380,000. Finally, BLB&B Advisors LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $310,000. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of recent analyst reports. Robert W. Baird upped 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. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $95.00 in a report on Tuesday. DA Davidson lifted their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.44.

Insider Activity

In related news, insider Alexander C. Karp sold 1,823,602 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $406,004,124.96. This represents a 22.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,656,687 shares of company stock worth $1,040,105,687 over the last three months. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Trading Down 0.4 %

Shares of NASDAQ:PLTR opened at $110.85 on Friday. The stock has a fifty day simple moving average of $76.46 and a two-hundred day simple moving average of $52.67. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $116.30. The stock has a market capitalization of $252.52 billion, a price-to-earnings ratio of 583.45, a PEG ratio of 11.44 and a beta of 2.81.

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.