Patriot Investment Management Group Inc. Lowers Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Patriot Investment Management Group Inc. decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 67.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,260 shares of the company’s stock after selling 10,755 shares during the period. Patriot Investment Management Group Inc.’s holdings in Palantir Technologies were worth $398,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies during the 3rd quarter worth $25,000. Prestige Wealth Management Group LLC increased its position 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 acquiring an additional 650 shares during the last quarter. First PREMIER Bank bought a new stake in Palantir Technologies during the fourth quarter worth $28,000. Wolff Wiese Magana LLC boosted its position 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 last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies in the 2nd quarter valued at $30,000. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction dated Monday, October 28th. The shares were 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 in the company, valued at $289,580,255.16. This trade represents a 34.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of Palantir Technologies stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total transaction of $406,646.46. Following the transaction, the director now directly owns 130,250 shares of the company’s stock, valued at approximately $6,576,322.50. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,518,855 shares of company stock valued at $1,438,682,423 over the last ninety days. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $78.98 on Friday. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The stock has a market capitalization of $179.92 billion, a P/E ratio of 394.92, a P/E/G ratio of 7.08 and a beta of 2.82. The company’s 50-day moving average is $71.70 and its 200 day moving average is $48.53.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm 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%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 EPS. Research analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of research analyst reports. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Wedbush boosted their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday. Cantor Fitzgerald initiated coverage on shares of Palantir Technologies in a report on Friday, January 17th. They set a “neutral” rating and a $72.00 target price on the stock. Robert W. Baird began coverage on Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price target for the company. Finally, DA Davidson lifted their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.61.

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.