Intech Investment Management LLC Decreases Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Intech Investment Management LLC cut its holdings in Palantir Technologies Inc. (NYSE:PLTR – Get Rating) by 82.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,435 shares of the company’s stock after selling 229,791 shares during the period. Intech Investment Management LLC’s holdings in Palantir Technologies were worth $317,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PLTR. Vanguard Group Inc. raised its stake in Palantir Technologies by 22.4% in the 1st quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock valued at $2,141,931,000 after purchasing an additional 28,563,749 shares during the last quarter. Two Sigma Investments LP raised its stake in Palantir Technologies by 28,558.7% in the 3rd quarter. Two Sigma Investments LP now owns 13,265,535 shares of the company’s stock valued at $107,849,000 after purchasing an additional 13,219,247 shares during the last quarter. Renaissance Technologies LLC raised its stake in Palantir Technologies by 17.5% in the 3rd quarter. Renaissance Technologies LLC now owns 33,130,047 shares of the company’s stock valued at $269,347,000 after purchasing an additional 4,925,900 shares during the last quarter. Millennium Management LLC raised its stake in Palantir Technologies by 194.8% in the 2nd quarter. Millennium Management LLC now owns 1,895,920 shares of the company’s stock valued at $17,196,000 after purchasing an additional 3,895,920 shares during the last quarter. Finally, Ardevora Asset Management LLP acquired a new position in Palantir Technologies in the 3rd quarter valued at about $22,852,000. 31.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PLTR shares. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $8.50 to $10.00 in a research note on Tuesday, May 9th. Credit Suisse Group reissued a “neutral” rating and issued a $11.00 target price on shares of Palantir Technologies in a research note on Wednesday, February 15th. The Goldman Sachs Group dropped their price objective on shares of Palantir Technologies from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday, February 14th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a research note on Thursday, February 23rd. Finally, Citigroup reaffirmed a “sell” rating and set a $5.00 price objective on shares of Palantir Technologies in a research note on Friday, February 3rd. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.54.

Insider Transactions at Palantir Technologies

In other news, insider Jeffrey Buckley sold 4,636 shares of the business’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $8.55, for a total transaction of $39,637.80. Following the completion of the sale, the insider now owns 334,051 shares in the company, valued at approximately $2,856,136.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jeffrey Buckley sold 4,636 shares of the business’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $8.55, for a total transaction of $39,637.80. Following the completion of the sale, the insider now owns 334,051 shares in the company, valued at approximately $2,856,136.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 19,877 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $8.13, for a total value of $161,600.01. Following the completion of the transaction, the insider now owns 228,960 shares of the company’s stock, valued at approximately $1,861,444.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 236,457 shares of company stock worth $2,255,000. 13.71% of the stock is currently owned by company insiders.

Palantir Technologies Stock Performance

Shares of NYSE:PLTR opened at $11.71 on Monday. Palantir Technologies Inc. has a 1 year low of $5.84 and a 1 year high of $12.41. The stock has a market capitalization of $24.80 billion, a P/E ratio of -90.08, a PEG ratio of 4.12 and a beta of 2.85. The stock has a 50-day simple moving average of $8.48 and a 200-day simple moving average of $7.82.

Palantir Technologies Company Profile

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides palantir gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.