Signal Advisors Wealth LLC reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 42.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 22,773 shares of the company’s stock after selling 16,698 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Palantir Technologies were worth $1,722,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC increased its stake in shares of 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 acquiring an additional 650 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the second quarter worth about $30,000. Ashburton Jersey Ltd acquired a new stake in Palantir Technologies in the second quarter valued at about $36,000. Finally, Creekmur Asset Management LLC boosted its holdings in Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after purchasing an additional 335 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
PLTR has been the subject of several recent analyst reports. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. DA Davidson increased their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, Robert W. Baird started coverage on Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective on the stock. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $42.12.
Palantir Technologies Stock Performance
Palantir Technologies stock opened at $64.98 on Tuesday. Palantir Technologies Inc. has a one year low of $16.03 and a one year high of $84.80. The stock’s 50 day moving average price is $69.40 and its 200 day moving average price is $46.26. The firm has a market capitalization of $148.03 billion, a PE ratio of 324.92, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the business posted $0.03 EPS. The business’s revenue was up 30.0% on a year-over-year basis. On average, analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.
Insider Activity
In other news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction dated Monday, October 28th. The shares were 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 owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This represents a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is currently owned by insiders.
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.
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