Palantir Technologies Inc. (NASDAQ:PLTR) is MRP Capital Investments LLC’s 6th Largest Position

MRP Capital Investments LLC lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 15.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,325 shares of the company’s stock after selling 7,150 shares during the quarter. Palantir Technologies accounts for about 2.8% of MRP Capital Investments LLC’s holdings, making the stock its 6th biggest position. MRP Capital Investments LLC’s holdings in Palantir Technologies were worth $3,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Prestige Wealth Management Group LLC grew its holdings in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the period. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies in the fourth quarter valued at $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the 4th quarter worth $28,000. Wolff Wiese Magana LLC boosted its position 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 buying an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC grew its stake in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $87.39 on Friday. The firm has a market cap of $204.96 billion, a PE ratio of 459.97, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The firm’s 50-day simple moving average is $89.08 and its 200-day simple moving average is $66.51.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a research report on Monday, March 3rd. William Blair set a $84.00 price target on Palantir Technologies in a research report on Wednesday, March 5th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Bank of America upped their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, DA Davidson raised their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $74.45.

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 310,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $51,545.44. This represents a 99.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the sale, the insider now directly owns 170,273 shares in the company, valued at approximately $12,681,933.04. The trade was a 73.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,379,785 shares of company stock worth $281,528,938 in the last 90 days. 12.93% of the stock is currently owned by company insiders.

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.