Palantir Technologies Inc. (NASDAQ:PLTR) is OLD Point Trust & Financial Services N A’s 6th Largest Position

OLD Point Trust & Financial Services N A trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 10.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,579 shares of the company’s stock after selling 14,020 shares during the quarter. Palantir Technologies makes up approximately 3.1% of OLD Point Trust & Financial Services N A’s portfolio, making the stock its 6th largest position. OLD Point Trust & Financial Services N A’s holdings in Palantir Technologies were worth $8,968,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Prestige Wealth Management Group LLC lifted its stake in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares in the last quarter. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC increased its stake in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the period. Finally, HighMark Wealth Management LLC boosted its stake in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,379,785 shares of company stock valued at $281,528,938. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Robert W. Baird increased their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group boosted their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Wedbush restated an “outperform” rating and set a $120.00 price target on shares of Palantir Technologies in a report on Monday, March 3rd. Royal Bank of Canada boosted their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, Cantor Fitzgerald raised their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Stock Up 2.6 %

Shares of PLTR opened at $86.10 on Thursday. The company has a 50-day moving average price of $88.70 and a two-hundred day moving average price of $66.37. The stock has a market cap of $201.94 billion, a price-to-earnings ratio of 453.18, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41.

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.