Insight Wealth Strategies LLC Reduces Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Insight Wealth Strategies LLC lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 12.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 74,353 shares of the company’s stock after selling 10,648 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Palantir Technologies were worth $5,623,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies in the second quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies during the third quarter worth $25,000. Prestige Wealth Management Group LLC lifted its stake in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies during the second quarter worth $30,000. Finally, Ashburton Jersey Ltd acquired a new stake in shares of Palantir Technologies in the second quarter valued at $36,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Down 5.0 %

Palantir Technologies stock traded down $4.02 during mid-day trading on Monday, hitting $75.87. The company had a trading volume of 91,396,189 shares, compared to its average volume of 74,656,719. The business has a fifty day moving average of $66.28 and a 200 day moving average of $44.38. The stock has a market cap of $172.83 billion, a price-to-earnings ratio of 379.37, a PEG ratio of 10.18 and a beta of 2.82. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 earnings per share. Equities analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This represents a 34.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the transaction, the director now owns 138,304 shares in the company, valued at $6,071,545.60. This trade represents a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,160,723 shares of company stock worth $1,408,158,941. 12.93% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Robert W. Baird initiated coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price objective for the company. Bank of America upped their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Mizuho boosted their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Seven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $42.12.

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.