Sequoia Financial Advisors LLC Has $21.31 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Sequoia Financial Advisors LLC cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 281,728 shares of the company’s stock after selling 8,478 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Palantir Technologies were worth $21,307,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp increased its position 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 grew 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after purchasing an additional 808,444 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Palantir Technologies by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock valued at $986,431,000 after buying an additional 655,815 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Palantir Technologies by 10.9% in the fourth quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock valued at $971,367,000 after buying an additional 1,262,479 shares during the period. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 416,053 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the sale, the insider now directly owns 592 shares in the company, valued at $43,908.64. The trade was a 99.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 985,838 shares of company stock worth $75,333,389 in the last quarter. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 2.2 %

Shares of NASDAQ:PLTR opened at $78.05 on Wednesday. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The company’s 50-day moving average price is $87.46 and its two-hundred day moving average price is $64.35. The firm has a market cap of $183.06 billion, a P/E ratio of 410.81, a P/E/G ratio of 10.84 and a beta of 2.81.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Jefferies Financial Group upped their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. DA Davidson boosted their price objective on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Northland Securities upped their target price 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. William Blair set a $84.00 price target on shares of Palantir Technologies in a research note on Wednesday, March 5th. Finally, Bank of America raised their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $75.25.

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.