Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Smith Anglin Financial LLC

Smith Anglin Financial LLC cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,082 shares of the company’s stock after selling 259 shares during the period. Smith Anglin Financial LLC’s holdings in Palantir Technologies were worth $536,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies in the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC grew its holdings 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 valued at $27,000 after purchasing an additional 650 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Palantir Technologies in the second quarter valued at approximately $30,000. Ashburton Jersey Ltd acquired a new position in shares of Palantir Technologies in the second quarter valued at approximately $36,000. Finally, Creekmur Asset Management LLC grew its holdings in shares of Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after purchasing an additional 335 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $68.10 on Wednesday. The firm’s fifty day simple moving average is $69.70 and its 200-day simple moving average is $46.54. The stock has a market capitalization of $155.13 billion, a price-to-earnings ratio of 340.52, a PEG ratio of 10.18 and a beta of 2.82. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. Analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 123,334 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the transaction, the insider now directly owns 331,369 shares of the company’s stock, valued at approximately $14,911,605. The trade was a 27.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was 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 in the company, 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. In the last three months, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Robert W. Baird initiated coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price objective for the company. Wedbush lifted their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Northland Securities lifted their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Finally, 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. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $42.12.

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.