Brown Lisle Cummings Inc. Has $473,000 Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Brown Lisle Cummings Inc. lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 40.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,250 shares of the company’s stock after selling 4,195 shares during the period. Brown Lisle Cummings Inc.’s holdings in Palantir Technologies were worth $473,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. State Street Corp raised its holdings in Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after purchasing an additional 808,444 shares in the last quarter. FMR LLC lifted its position in Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after purchasing an additional 1,004,603 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $95.00 in a report on Tuesday. UBS Group assumed coverage on Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective on the stock. Mizuho increased their target price on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday. Bank of America boosted their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, DA Davidson increased their price objective on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $58.56.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the sale, the director now directly owns 121,390 shares of the company’s stock, valued at $7,047,903.40. This represents a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,153,753 shares of company stock valued at $1,287,042,675. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $83.74 on Tuesday. The business’s fifty day moving average price is $73.71 and its two-hundred day moving average price is $51.00. The firm has a market capitalization of $190.76 billion, a price-to-earnings ratio of 418.72, a PEG ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a 52 week low of $16.48 and a 52 week high of $85.22.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

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.