Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by InTrack Investment Management Inc

InTrack Investment Management Inc lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 13.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 69,029 shares of the company’s stock after selling 10,517 shares during the period. Palantir Technologies comprises approximately 3.6% of InTrack Investment Management Inc’s holdings, making the stock its 4th biggest holding. InTrack Investment Management Inc’s holdings in Palantir Technologies were worth $5,221,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PLTR. State Street Corp increased its holdings in Palantir Technologies by 96.4% during the 3rd 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 increased its stake in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after buying an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 worth $460,798,000 after buying an additional 4,667,955 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after acquiring an additional 3,038,861 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity

In related news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction 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. This represents a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock worth $1,444,232,453 over the last three months. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PLTR shares. Bank of America boosted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Morgan Stanley reissued an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a research note on Monday, January 6th. Northland Securities upped their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Finally, Wedbush lifted their price objective on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.78.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $71.77 on Friday. The company has a market capitalization of $163.49 billion, a P/E ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80. The company’s 50 day moving average price is $70.49 and its two-hundred day moving average price is $47.17.

Palantir Technologies (NASDAQ:PLTR) last posted 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 business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. Analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

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.