Spirepoint Private Client LLC Sells 11,278 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Spirepoint Private Client LLC lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 224,497 shares of the company’s stock after selling 11,278 shares during the quarter. Palantir Technologies makes up approximately 2.1% of Spirepoint Private Client LLC’s investment portfolio, making the stock its 7th largest holding. Spirepoint Private Client LLC’s holdings in Palantir Technologies were worth $16,979,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PLTR. State Street Corp boosted its position in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC lifted its stake in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of 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 grew its position in shares of Palantir Technologies by 8.8% during the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after buying an additional 1,004,603 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Palantir Technologies by 60.5% in 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 acquiring an additional 4,667,955 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,653,753 shares of company stock valued at $1,039,407,675. 12.93% of the stock is owned by company insiders.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $101.36 on Thursday. The business’s fifty day moving average is $75.56 and its 200-day moving average is $52.26. The stock has a market capitalization of $230.90 billion, a price-to-earnings ratio of 506.83, a PEG ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a one year low of $19.76 and a one year high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the previous year, the company earned $0.03 earnings per share. The company’s quarterly revenue was up 30.0% on a year-over-year basis. Research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Analyst Ratings Changes

PLTR has been the subject of a number of research reports. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Citigroup raised their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Northland Securities increased their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group increased their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $69.44.

Palantir Technologies Company 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.