Joule Financial LLC Cuts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Joule Financial LLC trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 68.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,979 shares of the company’s stock after selling 6,351 shares during the period. Joule Financial LLC’s holdings in Palantir Technologies were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PLTR. Dimensional Fund Advisors LP boosted its position in shares of Palantir Technologies by 10.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock worth $72,963,000 after acquiring an additional 278,544 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Palantir Technologies during the second quarter valued at about $350,000. Wealth Alliance bought a new stake in shares of Palantir Technologies in the second quarter worth about $247,000. Mercer Global Advisors Inc. ADV lifted its position in shares of Palantir Technologies by 18.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 189,550 shares of the company’s stock worth $4,728,000 after buying an additional 30,030 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Palantir Technologies by 5.0% during the second quarter. Amalgamated Bank now owns 135,982 shares of the company’s stock valued at $3,444,000 after buying an additional 6,472 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Cantor Fitzgerald started coverage on shares of Palantir Technologies in a research report on Friday. They set a “neutral” rating and a $72.00 price objective for the company. The Goldman Sachs Group boosted their target price 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. Finally, Wedbush increased their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $43.78.

Insider Activity

In other news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 123,334 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $5,550,030.00. Following the sale, the insider now owns 331,369 shares of the company’s stock, valued at $14,911,605. This trade represents a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $71.77 on Friday. The stock has a market cap of $163.49 billion, a price-to-earnings ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The firm has a 50-day moving average of $70.49 and a two-hundred day moving average of $47.17.

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 analysts’ consensus estimates of $0.09 by $0.01. The firm 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%. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. Research analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current 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.