Manchester Financial Inc. Lowers Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Manchester Financial Inc. reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 64,336 shares of the company’s stock after selling 328 shares during the period. Palantir Technologies makes up approximately 1.1% of Manchester Financial Inc.’s portfolio, making the stock its 19th biggest holding. Manchester Financial Inc.’s holdings in Palantir Technologies were worth $4,866,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its holdings in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC boosted its position in Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Palantir Technologies by 3,476.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after purchasing an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in shares of Palantir Technologies by 943.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PLTR. Mizuho raised their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Robert W. Baird raised their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Citigroup lifted their price target on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Jefferies Financial Group increased their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.44.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 1,007,496 shares of Palantir Technologies stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $63.96, for a total transaction of $64,439,444.16. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $411,407,221.68. This trade represents a 13.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,346,976 shares of company stock valued at $642,660,729. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Trading Up 0.4 %

PLTR stock opened at $117.91 on Friday. The company has a market cap of $268.60 billion, a price-to-earnings ratio of 620.61, a PEG ratio of 11.44 and a beta of 2.81. The firm has a 50-day moving average of $80.12 and a two-hundred day moving average of $55.28. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $118.66.

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.