Frank Rimerman Advisors LLC Has $2.14 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Frank Rimerman Advisors LLC lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.5% in the fourth quarter, Holdings Channel reports. The firm owned 28,261 shares of the company’s stock after selling 1,337 shares during the period. Frank Rimerman Advisors LLC’s holdings in Palantir Technologies were worth $2,137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Westover Capital Advisors LLC lifted its holdings in shares of Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after buying an additional 130 shares in the last quarter. Tritonpoint Wealth LLC raised its stake in shares of Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after acquiring an additional 132 shares in the last quarter. Twin Peaks Wealth Advisors LLC raised its stake in shares of Palantir Technologies by 2.2% during the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock worth $493,000 after acquiring an additional 139 shares in the last quarter. 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 worth $931,000 after acquiring an additional 142 shares in the last quarter. Finally, RKL Wealth Management LLC grew its holdings in shares of Palantir Technologies by 2.7% in the fourth quarter. RKL Wealth Management LLC now owns 5,689 shares of the company’s stock worth $430,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 8.3 %

NASDAQ:PLTR opened at $86.24 on Friday. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The firm has a market capitalization of $202.26 billion, a PE ratio of 453.92, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The stock has a 50 day moving average of $87.83 and a 200-day moving average of $64.98.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $50,497.60. This trade represents a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,069,785 shares of company stock valued at $254,537,238 in the last three months. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. UBS Group lifted their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. DA Davidson boosted their target price on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Northland Securities boosted their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $74.45.

About Palantir Technologies

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.