Annex Advisory Services LLC Sells 6,808 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Annex Advisory Services LLC lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 36.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,691 shares of the company’s stock after selling 6,808 shares during the quarter. Annex Advisory Services LLC’s holdings in Palantir Technologies were worth $884,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its position 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 last quarter. Geode Capital Management LLC lifted 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 valued at $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake 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 acquiring an additional 808,444 shares during the period. FMR LLC lifted its stake in Palantir Technologies by 8.8% during the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after acquiring an additional 1,004,603 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the period. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction 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. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Up 3.7 %

Palantir Technologies stock opened at $71.77 on Tuesday. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80. The firm has a market capitalization of $163.49 billion, a price-to-earnings ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82. The company has a fifty day simple moving average of $70.49 and a 200-day simple moving average of $47.47.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PLTR. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Bank of America lifted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Cantor Fitzgerald began coverage on shares of Palantir Technologies in a research note on Friday. They issued a “neutral” rating and a $72.00 target price 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 company a “neutral” rating in a research note on Thursday, November 7th. Finally, DA Davidson boosted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Seven investment 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. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $43.78.

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.