Catalyst Private Wealth LLC Cuts Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Catalyst Private Wealth LLC lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 45.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 53,374 shares of the company’s stock after selling 45,352 shares during the quarter. Palantir Technologies makes up about 1.8% of Catalyst Private Wealth LLC’s portfolio, making the stock its 14th largest holding. Catalyst Private Wealth LLC’s holdings in Palantir Technologies were worth $4,037,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC lifted its stake in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies during the second quarter worth about $30,000. Ashburton Jersey Ltd purchased a new stake in Palantir Technologies during the 2nd quarter valued at about $36,000. Finally, Creekmur Asset Management LLC raised its holdings in Palantir Technologies by 46.0% in 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 last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLTR has been the subject of several analyst reports. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Wedbush boosted their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. UBS Group initiated coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target for the company. Northland Securities lifted their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $42.12.

Palantir Technologies Stock Down 3.4 %

NASDAQ PLTR traded down $2.28 on Monday, hitting $64.98. 68,370,032 shares of the stock were exchanged, compared to its average volume of 81,284,031. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The company has a 50-day moving average price of $68.93 and a 200-day moving average price of $45.98. The company has a market cap of $148.03 billion, a PE ratio of 324.92, a PEG ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The company’s revenue was up 30.0% compared to the same quarter last year. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred on 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. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is currently 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.