QRG Capital Management Inc. Lowers Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

QRG Capital Management Inc. reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 12.5% during the 4th quarter, HoldingsChannel reports. The firm owned 406,582 shares of the company’s stock after selling 57,972 shares during the period. QRG Capital Management Inc.’s holdings in Palantir Technologies were worth $30,750,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in shares of Palantir Technologies by 80.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 37,012 shares of the company’s stock valued at $1,377,000 after buying an additional 16,469 shares during the period. Nisa Investment Advisors LLC raised its holdings in Palantir Technologies by 5.0% during the third quarter. Nisa Investment Advisors LLC now owns 251,320 shares of the company’s stock worth $9,349,000 after purchasing an additional 11,920 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in Palantir Technologies during the third quarter worth $199,000. abrdn plc raised its holdings in Palantir Technologies by 124.0% during the third quarter. abrdn plc now owns 611,142 shares of the company’s stock worth $22,646,000 after purchasing an additional 338,260 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in Palantir Technologies by 83.0% during the third quarter. Diversify Advisory Services LLC now owns 19,042 shares of the company’s stock worth $708,000 after purchasing an additional 8,638 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLTR has been the subject of several research reports. Northland Securities lifted their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. Bank of America lifted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Wedbush boosted 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. Loop Capital initiated coverage on Palantir Technologies in a report on Thursday, February 20th. They issued a “buy” rating and a $141.00 price target for the company. Finally, Jefferies Financial Group boosted their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $73.21.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s 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 sale, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.43, for a total value of $2,772,900.00. Following the sale, the insider now directly owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. This trade represents a 4.09 % decrease in their position. 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 over the last quarter. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 1.7 %

Shares of NASDAQ:PLTR opened at $89.31 on Thursday. The company has a market cap of $203.45 billion, a P/E ratio of 470.08, a P/E/G 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 fifty day simple moving average of $86.79 and a 200-day simple moving average of $60.88.

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.