Trust Investment Advisors Decreases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Trust Investment Advisors cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 11.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,944 shares of the company’s stock after selling 927 shares during the quarter. Trust Investment Advisors’ holdings in Palantir Technologies were worth $525,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLTR. Natixis Advisors LLC lifted its position in Palantir Technologies by 406.7% during the 3rd quarter. Natixis Advisors LLC now owns 54,742 shares of the company’s stock worth $2,036,000 after acquiring an additional 43,938 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Palantir Technologies by 73.8% in the third quarter. Thrivent Financial for Lutherans now owns 91,656 shares of the company’s stock valued at $3,409,000 after purchasing an additional 38,924 shares during the period. Eagle Asset Management Inc. grew its holdings in Palantir Technologies by 21.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 84,271 shares of the company’s stock valued at $3,135,000 after purchasing an additional 14,740 shares in the last quarter. Penserra Capital Management LLC increased its stake in Palantir Technologies by 24.8% during the 3rd quarter. Penserra Capital Management LLC now owns 53,106 shares of the company’s stock worth $1,975,000 after buying an additional 10,567 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in Palantir Technologies by 70.3% in the 3rd quarter. Larson Financial Group LLC now owns 10,756 shares of the company’s stock worth $400,000 after buying an additional 4,441 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $96.51 on Wednesday. The firm has a market capitalization of $226.35 billion, a P/E ratio of 507.97, a P/E/G ratio of 10.84 and a beta of 2.81. The company has a 50-day simple moving average of $90.80 and a 200-day simple moving average of $68.37. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of analyst reports. Royal Bank of Canada lifted their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Citigroup raised their price target 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. Loop Capital cut their price target on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Finally, Wedbush reissued an “outperform” rating and set a $120.00 price objective on shares of Palantir Technologies in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $74.45.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 310,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $51,545.44. This represents a 99.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the transaction, the insider now owns 170,273 shares in the company, valued at $12,681,933.04. This represents a 73.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,379,785 shares of company stock worth $281,528,938. 12.93% of the stock is owned by company insiders.

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.