Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 12.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,353 shares of the company’s stock after selling 10,648 shares during the period. Insight Wealth Strategies LLC’s holdings in Palantir Technologies were worth $5,623,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Natixis Advisors LLC acquired a new stake in Palantir Technologies during the 2nd quarter worth about $274,000. Larson Financial Group LLC raised its stake in shares of Palantir Technologies by 24.6% in the second quarter. Larson Financial Group LLC now owns 6,315 shares of the company’s stock worth $160,000 after purchasing an additional 1,246 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Palantir Technologies by 7.1% during the second quarter. TD Asset Management Inc now owns 468,890 shares of the company’s stock worth $11,877,000 after purchasing an additional 31,047 shares during the period. Victory Capital Management Inc. boosted its position in Palantir Technologies by 18.4% in the second quarter. Victory Capital Management Inc. now owns 660,076 shares of the company’s stock valued at $16,720,000 after buying an additional 102,758 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies in the 2nd quarter worth approximately $25,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 5.0 %

NASDAQ:PLTR traded down $4.02 during trading hours on Monday, reaching $75.87. 91,396,189 shares of the company were exchanged, compared to its average volume of 74,656,719. The firm has a market cap of $172.83 billion, a PE ratio of 379.37, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The stock’s 50-day moving average is $66.28 and its 200-day moving average is $44.38.

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research note on Thursday, November 7th. Mizuho boosted their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. UBS Group started coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Northland Securities lifted their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Finally, DA Davidson upped their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Seven analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.12.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the transaction, the director now directly owns 138,304 shares in the company, valued at $6,071,545.60. The trade was a 5.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 123,334 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the sale, the insider now directly owns 331,369 shares of the company’s stock, valued at approximately $14,911,605. This represents a 27.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,160,723 shares of company stock valued at $1,408,158,941 in the last 90 days. 12.93% of the stock is owned by insiders.

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.