Archon Partners LLC Sells 50,000 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Archon Partners LLC lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 19.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,000 shares of the company's stock after selling 50,000 shares during the quarter. Palantir Technologies makes up approximately 1.8% of Archon Partners LLC's holdings, making the stock its 22nd largest position. Archon Partners LLC's holdings in Palantir Technologies were worth $15,807,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Roxbury Financial LLC acquired a new position in Palantir Technologies during the fourth quarter worth about $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies in the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its holdings in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after purchasing an additional 265 shares in the last quarter. HighMark Wealth Management LLC lifted its stake in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares during the last quarter. Finally, Sierra Ocean LLC bought a new stake in Palantir Technologies during the fourth quarter worth approximately $31,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction that occurred on 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock worth $253,328,090 in the last quarter. Corporate insiders own 12.93% of the company's stock.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded up $5.00 during trading hours on Friday, reaching $112.78. 103,457,514 shares of the stock were exchanged, compared to its average volume of 74,033,162. The stock's fifty day simple moving average is $89.34 and its 200 day simple moving average is $76.88. Palantir Technologies Inc. has a 52 week low of $20.50 and a 52 week high of $125.41. The firm has a market capitalization of $264.51 billion, a price-to-earnings ratio of 593.61, a P/E/G ratio of 10.84 and a beta of 2.74.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLTR. Wedbush restated an "outperform" rating and issued a $120.00 target price on shares of Palantir Technologies in a report on Monday, March 3rd. Northland Securities boosted their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price on the stock. DA Davidson decreased their price objective on shares of Palantir Technologies from $105.00 to $100.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Loop Capital reissued a "buy" rating on shares of Palantir Technologies in a research note on Friday, April 4th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and a consensus target price of $74.71.

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.