Palantir Technologies Inc. (NASDAQ:PLTR) is Carmel Capital Partners LLC’s 4th Largest Position

Carmel Capital Partners LLC trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 36.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 188,557 shares of the company’s stock after selling 108,165 shares during the period. Palantir Technologies makes up 5.8% of Carmel Capital Partners LLC’s investment portfolio, making the stock its 4th largest holding. Carmel Capital Partners LLC’s holdings in Palantir Technologies were worth $14,261,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. McDonough Capital Management Inc purchased a new stake in Palantir Technologies during the fourth quarter valued at approximately $432,000. One Capital Management LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at approximately $450,000. Townsend Asset Management Corp NC ADV purchased a new stake in Palantir Technologies during the fourth quarter valued at approximately $204,000. Vision Financial Markets LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at approximately $73,000. Finally, Cullen Frost Bankers Inc. increased its holdings in Palantir Technologies by 4,248.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,696 shares of the company’s stock valued at $128,000 after buying an additional 1,657 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of research reports. Loop Capital started coverage on shares of Palantir Technologies in a report on Thursday, February 20th. They set a “buy” rating and a $141.00 target price for the company. Jefferies Financial Group upped their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Citigroup upped their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. DA Davidson upped their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada upped their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $74.79.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.43, for a total value of $2,772,900.00. Following the transaction, the insider now owns 702,786 shares of the company’s stock, valued at $64,958,509.98. This trade represents a 4.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $42,002.40. This represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,439,783 shares of company stock valued at $107,497,043 over the last 90 days. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Up 6.8 %

Palantir Technologies stock opened at $90.13 on Thursday. The company has a market cap of $211.39 billion, a price-to-earnings ratio of 474.39, a PEG ratio of 10.84 and a beta of 2.81. The firm’s fifty day moving average is $87.34 and its 200 day moving average is $62.79. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41.

Palantir Technologies Company 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.