Trifecta Capital Advisors LLC Decreases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Trifecta Capital Advisors LLC lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 0.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 110,044 shares of the company’s stock after selling 271 shares during the period. Palantir Technologies accounts for approximately 1.6% of Trifecta Capital Advisors LLC’s portfolio, making the stock its 17th biggest holding. Trifecta Capital Advisors LLC’s holdings in Palantir Technologies were worth $8,323,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Palantir Technologies by 227.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 122,200 shares of the company’s stock worth $4,546,000 after acquiring an additional 84,856 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Palantir Technologies by 80.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 37,012 shares of the company’s stock worth $1,377,000 after acquiring an additional 16,469 shares during the period. Allworth Financial LP raised its holdings in shares of Palantir Technologies by 8.3% during the 3rd quarter. Allworth Financial LP now owns 24,590 shares of the company’s stock worth $915,000 after acquiring an additional 1,891 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Palantir Technologies by 2,252.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,645 shares of the company’s stock worth $6,323,000 after acquiring an additional 164,349 shares during the period. Finally, Clear Harbor Asset Management LLC raised its holdings in shares of Palantir Technologies by 12.6% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 17,829 shares of the company’s stock worth $663,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $90.68 on Tuesday. The company has a market cap of $206.57 billion, a P/E ratio of 477.29, a P/E/G ratio of 10.84 and a beta of 2.81. The stock has a 50-day moving average of $86.17 and a two-hundred day moving average of $60.27. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41.

Insider Buying and Selling at Palantir Technologies

In related news, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the sale, the director now owns 100,923 shares in the company, valued at $7,748,867.94. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,719,783 shares of company stock valued at $477,414,743 in the last three months. 12.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. UBS Group lifted their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Wedbush lifted their price target on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Royal Bank of Canada lifted their price target on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. 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. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.21.

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.