Financial Advocates Investment Management Sells 14,307 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Financial Advocates Investment Management cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 27.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,597 shares of the company’s stock after selling 14,307 shares during the quarter. Financial Advocates Investment Management’s holdings in Palantir Technologies were worth $2,919,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC raised its position in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares in the last quarter. First PREMIER Bank purchased a new position in Palantir Technologies during the fourth quarter worth $28,000. Wolff Wiese Magana LLC increased its stake in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. Finally, R Squared Ltd bought a new position in shares of Palantir Technologies during the 4th quarter worth $33,000. Institutional investors own 45.65% of the company’s stock.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,653,753 shares of company stock worth $1,039,407,675. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Down 2.4 %

Shares of PLTR opened at $101.36 on Thursday. The stock has a market cap of $230.90 billion, a P/E ratio of 506.83, a P/E/G ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a 12-month low of $19.76 and a 12-month high of $106.91. The business’s fifty day moving average is $75.56 and its 200 day moving average is $52.26.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. On average, analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research reports. Robert W. Baird lifted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. DA Davidson increased their price objective on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday. Citigroup increased their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $69.44.

About Palantir Technologies

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.