Carmel Capital Partners LLC Reduces Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Carmel Capital Partners LLC trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 36.5% during the 4th quarter, Holdings Channel reports. The fund owned 188,557 shares of the company’s stock after selling 108,165 shares during the period. Palantir Technologies comprises about 5.8% of Carmel Capital Partners LLC’s portfolio, making the stock its 4th largest position. Carmel Capital Partners LLC’s holdings in Palantir Technologies were worth $14,261,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. boosted its stake in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after purchasing an additional 448 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in Palantir Technologies in the 4th quarter worth approximately $876,000. Destiny Wealth Partners LLC acquired a new stake in Palantir Technologies in the 4th quarter worth approximately $3,233,000. Finally, Oppenheimer & Co. Inc. boosted its stake in Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after purchasing an additional 87,062 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the transaction, the director now owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,439,783 shares of company stock worth $107,497,043. 12.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. DA Davidson lifted their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Wedbush reissued an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a research note on Monday. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $74.79.

Palantir Technologies Stock Up 6.8 %

PLTR stock opened at $90.13 on Thursday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The stock’s 50 day moving average is $87.34 and its two-hundred day moving average is $62.79. The company has a market capitalization of $211.39 billion, a PE ratio of 474.39, a P/E/G ratio of 10.84 and a beta of 2.81.

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.