Patron Partners LLC Sells 1,971 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Patron Partners LLC cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 24.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,250 shares of the company’s stock after selling 1,971 shares during the quarter. Patron Partners LLC’s holdings in Palantir Technologies were worth $473,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. State Street Corp grew 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 valued at $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC grew its stake in Palantir Technologies by 52.9% during 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 acquiring an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after acquiring an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 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 worth $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $353,967,157.74. This trade represents a 41.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the transaction, the director now owns 121,390 shares of the company’s stock, valued at $7,047,903.40. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,153,753 shares of company stock valued at $1,287,042,675. 12.93% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PLTR shares. Mizuho upped their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Northland Securities raised their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Cantor Fitzgerald initiated coverage on Palantir Technologies in a research report on Friday, January 17th. They issued a “neutral” rating and a $72.00 price target for the company. Finally, Bank of America boosted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Seven equities research 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.61.

Palantir Technologies Trading Up 1.5 %

NASDAQ PLTR opened at $83.74 on Tuesday. The stock has a market capitalization of $190.76 billion, a price-to-earnings ratio of 418.72, a PEG ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a twelve month low of $16.48 and a twelve month high of $85.22. The stock has a 50-day moving average of $73.71 and a 200 day moving average of $51.00.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 prior year, the firm earned $0.03 EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. Equities analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

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.