Meridian Wealth Management LLC Decreases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Meridian Wealth Management LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 7.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 21,100 shares of the company’s stock after selling 1,615 shares during the period. Meridian Wealth Management LLC’s holdings in Palantir Technologies were worth $1,596,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC boosted its stake in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. HighMark Wealth Management LLC boosted its stake in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in Palantir Technologies in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Down 1.8 %

Shares of NASDAQ PLTR opened at $83.42 on Tuesday. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The company has a market cap of $190.03 billion, a P/E ratio of 439.08, a P/E/G ratio of 10.84 and a beta of 2.81. The stock has a fifty day moving average price of $87.14 and a 200 day moving average price of $62.23.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald upped their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. DA Davidson upped their target price on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Loop Capital assumed coverage on Palantir Technologies in a research note on Thursday, February 20th. They issued a “buy” rating and a $141.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a research note on Monday. Finally, Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.79.

Read Our Latest Analysis on Palantir Technologies

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now directly owns 100,923 shares in the company, valued at approximately $7,748,867.94. This represents a 9.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,439,783 shares of company stock worth $107,497,043. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Profile

(Free Report)

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.

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