Strategic Advocates LLC Decreases Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Strategic Advocates LLC lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 18.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 73,581 shares of the company’s stock after selling 16,745 shares during the quarter. Palantir Technologies comprises approximately 1.9% of Strategic Advocates LLC’s investment portfolio, making the stock its 13th biggest position. Strategic Advocates LLC’s holdings in Palantir Technologies were worth $5,565,000 at the end of the most recent quarter.

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

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,054 shares of Palantir Technologies stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total transaction of $406,646.46. Following the completion of the sale, the director now directly owns 130,250 shares of the company’s stock, valued at $6,576,322.50. The trade was a 5.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 owns 562,006 shares in the company, valued at $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. Over the last quarter, insiders sold 20,181,807 shares of company stock valued at $1,288,448,522. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Up 1.8 %

Shares of NASDAQ PLTR opened at $81.22 on Friday. The business’s 50 day moving average is $72.94 and its two-hundred day moving average is $50.10. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80. The firm 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 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. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the company earned $0.03 EPS. Palantir Technologies’s revenue was up 30.0% on a year-over-year basis. Analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PLTR shares. Mizuho raised their price objective on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. DA Davidson upped their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. 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. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $44.61.

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.