Wall Street Financial Group Inc. Decreases Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Wall Street Financial Group Inc. lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 55.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,126 shares of the company’s stock after selling 24,843 shares during the period. Palantir Technologies comprises 1.5% of Wall Street Financial Group Inc.’s portfolio, making the stock its 15th largest holding. Wall Street Financial Group Inc.’s holdings in Palantir Technologies were worth $1,522,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PLTR. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies during the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC raised its stake in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies during the second quarter valued at $30,000. Finally, Ashburton Jersey Ltd purchased a new stake in shares of Palantir Technologies during the second quarter valued at $36,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 3,337,048 shares of the business’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 transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 over the last 90 days. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PLTR. Mizuho boosted their target price on 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 began coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective on the stock. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. UBS Group initiated coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price for the company. Finally, The Goldman Sachs Group increased their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $43.78.

Palantir Technologies Trading Up 1.8 %

Shares of NASDAQ:PLTR opened at $73.07 on Wednesday. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80. The company has a market cap of $166.45 billion, a PE ratio of 365.37, a price-to-earnings-growth ratio of 6.66 and a beta of 2.82. The stock has a 50 day moving average of $70.72 and a 200 day moving average of $47.79.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue was up 30.0% on a year-over-year basis. During the same period last year, the firm earned $0.03 EPS. Equities research analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share 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.