Legal & General Group Plc Sells 4,251,275 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Legal & General Group Plc lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 27.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,231,758 shares of the company’s stock after selling 4,251,275 shares during the quarter. Legal & General Group Plc’s holdings in Palantir Technologies were worth $849,458,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PLTR. Heritage Wealth Management Inc. CA raised its position in Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after purchasing an additional 111 shares during the last quarter. Westover Capital Advisors LLC raised its holdings in Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after buying an additional 130 shares during the last quarter. Tritonpoint Wealth LLC grew its holdings in Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after acquiring an additional 132 shares during the last quarter. Twin Peaks Wealth Advisors LLC increased its position in Palantir Technologies by 2.2% in the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock valued at $493,000 after acquiring an additional 139 shares during the period. Finally, Truvestments Capital LLC raised its stake in shares of Palantir Technologies by 1.2% during the fourth quarter. Truvestments Capital LLC now owns 12,311 shares of the company’s stock valued at $931,000 after acquiring an additional 142 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLTR has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. UBS Group lifted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group boosted their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Daiwa America raised shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Finally, Bank of America raised their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $75.19.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $74.01 on Monday. The firm has a market cap of $173.58 billion, a price-to-earnings ratio of 389.55, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. The business has a 50-day simple moving average of $92.67 and a two-hundred day simple moving average of $71.18. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41.

Insider Buying and Selling

In other news, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction 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 $59,372,215.76. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $48,988. The trade was a 99.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,993,175 shares of company stock valued at $253,549,610. 12.93% of the stock is owned by insiders.

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.