Institute for Wealth Management LLC. Sells 853 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Institute for Wealth Management LLC. lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,884 shares of the company’s stock after selling 853 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Palantir Technologies were worth $1,050,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in Palantir Technologies during the 4th quarter valued at about $876,000. State of Alaska Department of Revenue raised its stake in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after buying an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after acquiring an additional 87,062 shares in the last quarter. Finally, Tyler Stone Wealth Management grew its stake in shares of Palantir Technologies by 97.9% during the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after acquiring an additional 99,921 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $81.22 on Friday. The stock has a 50 day simple moving average of $73.34 and a 200-day simple moving average of $50.31. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80. The company has a market cap of $185.02 billion, a price-to-earnings ratio of 406.12, a PEG ratio of 7.29 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data 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 business had revenue of $725.52 million for the quarter, compared to the consensus estimate 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 was up 30.0% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share. Analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Wedbush boosted their price target on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Cantor Fitzgerald assumed coverage on Palantir Technologies in a research note on Friday, January 17th. They issued a “neutral” rating and a $72.00 price objective for the company. The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average price target of $44.61.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 5,250,000 shares of the company’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 completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the completion of the transaction, the insider now directly owns 562,006 shares in the company, valued at approximately $28,077,819.76. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,181,807 shares of company stock worth $1,288,448,522. Insiders own 12.93% of the company’s stock.

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.