Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Friedenthal Financial

Friedenthal Financial lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 53.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,362 shares of the company’s stock after selling 12,117 shares during the quarter. Friedenthal Financial’s holdings in Palantir Technologies were worth $784,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC increased 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 acquiring an additional 650 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies during the second quarter valued at $30,000. Ashburton Jersey Ltd purchased a new stake in Palantir Technologies in the second quarter valued at $36,000. Finally, Creekmur Asset Management LLC grew its position in Palantir Technologies by 46.0% during the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after purchasing an additional 335 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Down 3.4 %

PLTR stock traded down $2.28 during trading on Monday, reaching $64.98. 67,319,299 shares of the stock were exchanged, compared to its average volume of 80,365,875. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The firm has a market capitalization of $148.03 billion, a price-to-earnings ratio of 324.92, a P/E/G ratio of 10.18 and a beta of 2.82. The business has a 50 day moving average price of $68.93 and a 200-day moving average price of $45.98.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for 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 revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLTR. Northland Securities upped their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. DA Davidson lifted their target price 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. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a report on Thursday, November 7th. Finally, Bank of America increased their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.12.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 8,054 shares of Palantir Technologies stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the transaction, the director now owns 130,250 shares in the company, valued at approximately $6,576,322.50. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, 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. Over the last quarter, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Company 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.