International Assets Investment Management LLC Cuts Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

International Assets Investment Management LLC reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 97.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 189,930 shares of the company’s stock after selling 6,642,371 shares during the period. Palantir Technologies makes up 0.7% of International Assets Investment Management LLC’s investment portfolio, making the stock its 19th biggest position. International Assets Investment Management LLC’s holdings in Palantir Technologies were worth $14,281,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies during the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC grew 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 valued at $27,000 after buying an additional 650 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies in the second quarter worth about $30,000. Ashburton Jersey Ltd bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at about $36,000. Finally, Creekmur Asset Management LLC boosted its holdings in Palantir Technologies by 46.0% during the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after acquiring an additional 335 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 3.5 %

Shares of NASDAQ:PLTR traded down $2.46 during mid-day trading on Wednesday, reaching $67.53. The stock had a trading volume of 31,549,355 shares, compared to its average volume of 70,541,859. The company has a market cap of $153.83 billion, a P/E ratio of 337.67, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. The business’s 50 day moving average price is $67.40 and its 200 day moving average price is $45.06. 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, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s quarterly 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 EPS. Analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PLTR shares. DA Davidson raised their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Bank of America upped their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Mizuho raised their price target on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.12.

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,645,510 shares of company stock worth $1,444,267,325 over the last three months. 12.93% of the stock is owned by insiders.

Palantir Technologies 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.