Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Riggs Asset Managment Co. Inc.

Riggs Asset Managment Co. Inc. decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,501 shares of the company’s stock after selling 1,496 shares during the quarter. Riggs Asset Managment Co. Inc.’s holdings in Palantir Technologies were worth $5,133,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its holdings in Palantir Technologies by 96.4% during the 3rd 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 during the period. Geode Capital Management LLC raised its stake in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after buying an additional 808,444 shares during the last quarter. FMR LLC grew its position in 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 purchasing an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In related news, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the completion of the sale, the insider now owns 562,006 shares in the company, valued at approximately $28,077,819.76. The trade was a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,181,807 shares of company stock valued at $1,288,448,522 over the last 90 days. 12.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on PLTR. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Bank of America boosted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Northland Securities increased 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. Wedbush lifted their price objective on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $44.61.

Palantir Technologies Stock Up 1.6 %

PLTR stock opened at $82.49 on Friday. The business has a fifty day simple moving average of $73.71 and a 200-day simple moving average of $50.84. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $85.22. The company has a market cap of $187.91 billion, a price-to-earnings ratio of 412.47, a PEG ratio of 7.29 and a beta of 2.82.

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

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.