GFS Advisors LLC Sells 18,300 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

GFS Advisors LLC lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 16.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,670 shares of the company’s stock after selling 18,300 shares during the quarter. GFS Advisors LLC’s holdings in Palantir Technologies were worth $7,084,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kennebec Savings Bank raised its holdings in Palantir Technologies by 29.5% in the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after acquiring an additional 159 shares in the last quarter. RMR Wealth Builders increased its position in shares of Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after purchasing an additional 167 shares during the period. Bay Rivers Group raised its stake in Palantir Technologies by 2.7% in the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after purchasing an additional 171 shares in the last quarter. Christensen King & Associates Investment Services Inc. lifted its position in Palantir Technologies by 3.0% during the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after purchasing an additional 174 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in Palantir Technologies by 1.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 14,406 shares of the company’s stock worth $1,090,000 after buying an additional 196 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 562,006 shares of the company’s stock, valued at $28,077,819.76. This represents a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the transaction, the director now owns 100,923 shares in the company, valued at $7,748,867.94. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,181,807 shares of company stock worth $1,288,448,522 over the last quarter. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. Bank of America upped their target price on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. The Goldman Sachs Group raised their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Mizuho boosted their price target on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.61.

Palantir Technologies Stock Up 1.6 %

Shares of NASDAQ:PLTR opened at $82.49 on Friday. The business has a fifty day simple moving average of $73.34 and a 200 day simple moving average of $50.31. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $85.22. The firm has a market cap of $187.91 billion, a P/E ratio of 412.47, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

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.