Institute for Wealth Management LLC. Trims Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Institute for Wealth Management LLC. decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,884 shares of the company’s stock after selling 853 shares during the period. Institute for Wealth Management LLC.’s holdings in Palantir Technologies were worth $1,050,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the 3rd quarter worth $25,000. Prestige Wealth Management Group LLC raised its stake in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the period. First PREMIER Bank purchased a new position in Palantir Technologies in the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its holdings in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies in the second quarter worth $30,000. 45.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PLTR. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research report on Thursday, November 7th. Mizuho boosted their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Robert W. Baird started coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price objective for the company. Finally, DA Davidson increased their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.61.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total transaction of $406,646.46. Following the transaction, the director now owns 130,250 shares of the company’s stock, valued at approximately $6,576,322.50. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the completion of the sale, the insider now directly owns 562,006 shares of the company’s stock, valued at $28,077,819.76. The trade was a 3.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,181,807 shares of company stock worth $1,288,448,522 in the last ninety days. 12.93% of the stock is owned by company insiders.

Palantir Technologies Price Performance

PLTR stock opened at $81.22 on Friday. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The firm’s 50-day moving average is $73.34 and its 200 day moving average is $50.31. The company has a market capitalization of $185.02 billion, a PE ratio of 406.12, a P/E/G ratio of 7.29 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

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.