Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Redwood Wealth Management Group LLC

Redwood Wealth Management Group LLC trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 28.2% in the fourth quarter, Holdings Channel reports. The firm owned 21,332 shares of the company’s stock after selling 8,369 shares during the period. Redwood Wealth Management Group LLC’s holdings in Palantir Technologies were worth $1,612,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Czech National Bank acquired a new position in Palantir Technologies in the 3rd quarter valued at about $15,261,000. GAMMA Investing LLC grew its position in Palantir Technologies by 83.9% in the 3rd quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock valued at $213,000 after acquiring an additional 2,607 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new position in Palantir Technologies in the 3rd quarter valued at about $209,000. Diversified Trust Co grew its position in Palantir Technologies by 172.7% in the 3rd quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock valued at $802,000 after acquiring an additional 13,652 shares in the last quarter. Finally, Smith Anglin Financial LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at about $273,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on PLTR. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $95.00 in a research report on Tuesday. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday. The Goldman Sachs Group boosted their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, DA Davidson boosted their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.89.

Palantir Technologies Trading Up 24.0 %

Shares of NASDAQ PLTR opened at $103.83 on Wednesday. Palantir Technologies Inc. has a twelve month low of $16.48 and a twelve month high of $106.91. The stock has a 50 day moving average of $74.09 and a two-hundred day moving average of $51.39. The stock has a market cap of $236.53 billion, a P/E ratio of 519.18, a P/E/G ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, research analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 1,823,602 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $63.12, for a total value of $115,105,758.24. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $406,004,124.96. The trade was a 22.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,153,753 shares of company stock worth $1,287,042,675. 12.93% of the stock is owned by insiders.

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.