Victory Capital Management Inc. Decreases Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Victory Capital Management Inc. trimmed its position in Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 28.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 487,160 shares of the company's stock after selling 197,793 shares during the period. Victory Capital Management Inc.'s holdings in Palantir Technologies were worth $8,365,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PLTR. Fiduciary Alliance LLC boosted its position in Palantir Technologies by 1.0% during the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company's stock worth $1,044,000 after acquiring an additional 618 shares during the last quarter. Golden State Equity Partners boosted its holdings in shares of Palantir Technologies by 4.6% during the 4th quarter. Golden State Equity Partners now owns 14,435 shares of the company's stock worth $248,000 after purchasing an additional 640 shares during the last quarter. Capital Investment Counsel Inc increased its holdings in shares of Palantir Technologies by 0.5% in the fourth quarter. Capital Investment Counsel Inc now owns 120,727 shares of the company's stock valued at $2,073,000 after purchasing an additional 650 shares during the last quarter. LCM Capital Management Inc increased its holdings in shares of Palantir Technologies by 1.9% in the fourth quarter. LCM Capital Management Inc now owns 34,080 shares of the company's stock valued at $585,000 after purchasing an additional 650 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in Palantir Technologies by 2.2% during the fourth quarter. Valeo Financial Advisors LLC now owns 31,371 shares of the company's stock worth $539,000 after buying an additional 675 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 2.4 %

NYSE:PLTR traded up $0.49 on Tuesday, reaching $21.44. 57,766,319 shares of the company's stock were exchanged, compared to its average volume of 63,181,777. The firm has a market capitalization of $47.43 billion, a price-to-earnings ratio of 178.18, a price-to-earnings-growth ratio of 4.71 and a beta of 2.76. Palantir Technologies Inc. has a 52-week low of $9.02 and a 52-week high of $27.50. The business has a fifty day moving average of $23.05 and a 200-day moving average of $20.49.

Insider Buying and Selling

In other news, insider Heather A. Planishek sold 8,521 shares of Palantir Technologies stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $23.27, for a total value of $198,283.67. Following the completion of the transaction, the insider now owns 703,485 shares in the company, valued at approximately $16,370,095.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Heather A. Planishek sold 8,521 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $23.27, for a total value of $198,283.67. Following the completion of the transaction, the insider now directly owns 703,485 shares of the company's stock, valued at $16,370,095.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexandra W. Schiff sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $24.91, for a total transaction of $124,550.00. Following the sale, the director now directly owns 191,783 shares in the company, valued at approximately $4,777,314.53. The disclosure for this sale can be found here. Insiders have sold a total of 18,457,938 shares of company stock valued at $415,665,719 in the last ninety days. Company insiders own 13.96% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PLTR. Royal Bank of Canada upped their target price on Palantir Technologies from $5.00 to $9.00 and gave the company an "underperform" rating in a report on Tuesday, May 7th. Citigroup raised their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 7th. Wedbush reiterated an "outperform" rating and issued a $35.00 target price on shares of Palantir Technologies in a report on Monday, May 6th. William Blair reissued an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 7th. Finally, Bank of America lifted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $20.65.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. 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.