Strategic Advocates LLC Sells 16,745 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Strategic Advocates LLC cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 18.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,581 shares of the company’s stock after selling 16,745 shares during the quarter. Palantir Technologies makes up approximately 1.9% of Strategic Advocates LLC’s holdings, making the stock its 13th largest holding. Strategic Advocates LLC’s holdings in Palantir Technologies were worth $5,565,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Palantir Technologies by 5.7% during the 3rd 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 in the last quarter. FMR LLC boosted its holdings in Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after acquiring an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLTR. Cantor Fitzgerald initiated coverage on shares of Palantir Technologies in a research note on Friday, January 17th. They issued a “neutral” rating and a $72.00 price target on the stock. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird initiated coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target for the company. Bank of America upped their price objective on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, DA Davidson lifted their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.61.

Palantir Technologies Price Performance

PLTR stock opened at $81.22 on Friday. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80. The business has a 50-day moving average price of $72.94 and a 200 day moving average price of $50.10. The company has a market capitalization of $185.02 billion, a P/E ratio of 406.12, a PEG ratio of 7.29 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued 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. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the company earned $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,181,807 shares of company stock worth $1,288,448,522. Insiders own 12.93% of the company’s stock.

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.