Westend Capital Management LLC Has $20.31 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Westend Capital Management LLC trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 268,556 shares of the company’s stock after selling 881 shares during the quarter. Palantir Technologies comprises about 6.0% of Westend Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position. Westend Capital Management LLC’s holdings in Palantir Technologies were worth $20,311,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PLTR. Wolff Wiese Magana LLC boosted its stake in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Trivant Custom Portfolio Group LLC lifted its holdings in Palantir Technologies by 313.3% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 620 shares of the company’s stock valued at $47,000 after buying an additional 470 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the 3rd quarter worth about $25,000. Prestige Wealth Management Group LLC raised its stake in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares in the last quarter. Finally, PSI Advisors LLC grew its stake in Palantir Technologies by 99.7% in the fourth quarter. PSI Advisors LLC now owns 795 shares of the company’s stock worth $60,000 after purchasing an additional 397 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $71.77 on Friday. The stock has a market cap of $163.49 billion, a PE ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82. The firm has a fifty day moving average price of $70.49 and a 200 day moving average price of $47.17. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during 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 company’s revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Analysts Set New Price Targets

PLTR has been the subject of several recent research reports. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Robert W. Baird started coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price for the company. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $43.78.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 34.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453 over the last ninety days. Insiders own 12.93% of the company’s stock.

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.