Atlas Private Wealth Advisors Sells 3,546 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Atlas Private Wealth Advisors lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,030 shares of the company’s stock after selling 3,546 shares during the period. Palantir Technologies makes up about 0.6% of Atlas Private Wealth Advisors’ portfolio, making the stock its 29th largest holding. Atlas Private Wealth Advisors’ holdings in Palantir Technologies were worth $4,238,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PLTR. State Street Corp lifted its stake in Palantir Technologies by 96.4% during the third 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 raised its holdings in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Palantir Technologies by 3,476.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after buying an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its position in Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after acquiring an additional 2,984,348 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $78.98 on Friday. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80. The firm’s fifty day moving average is $71.70 and its 200-day moving average is $48.53. The firm has a market cap of $179.92 billion, a P/E ratio of 394.92, a P/E/G ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total value of $999,200.00. Following the completion of the sale, the insider now directly owns 562,006 shares in the company, valued at $28,077,819.76. This trade represents a 3.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,518,855 shares of company stock worth $1,438,682,423. 12.93% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Wedbush raised their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday. Mizuho boosted their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. UBS Group initiated coverage on Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective on the stock. Finally, Cantor Fitzgerald initiated coverage on Palantir Technologies in a report on Friday, January 17th. They issued a “neutral” rating and a $72.00 target price for the company. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.61.

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.