Sterneck Capital Management LLC Has $771,000 Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Sterneck Capital Management LLC cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,196 shares of the company’s stock after selling 386 shares during the period. Sterneck Capital Management LLC’s holdings in Palantir Technologies were worth $771,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Natixis Advisors LLC bought a new position in shares of Palantir Technologies in the second quarter valued at $274,000. TD Asset Management Inc increased its stake in shares of Palantir Technologies by 7.1% during the 2nd quarter. TD Asset Management Inc now owns 468,890 shares of the company’s stock worth $11,877,000 after purchasing an additional 31,047 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Palantir Technologies by 18.4% during the 2nd quarter. Victory Capital Management Inc. now owns 660,076 shares of the company’s stock worth $16,720,000 after purchasing an additional 102,758 shares during the last quarter. Candriam S.C.A. raised its holdings in shares of Palantir Technologies by 4.6% in the 2nd quarter. Candriam S.C.A. now owns 97,668 shares of the company’s stock valued at $2,474,000 after purchasing an additional 4,285 shares during the period. Finally, Ballentine Partners LLC lifted its stake in Palantir Technologies by 23.7% in the 2nd quarter. Ballentine Partners LLC now owns 12,339 shares of the company’s stock valued at $313,000 after purchasing an additional 2,368 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Down 7.8 %

NASDAQ PLTR opened at $69.99 on Wednesday. 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 $159.44 billion, a price-to-earnings ratio of 349.97, a P/E/G ratio of 10.18 and a beta of 2.82. The firm’s 50 day simple moving average is $67.40 and its 200 day simple moving average is $45.06.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The company 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%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 EPS. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 483,987 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the transaction, the insider now directly owns 170,273 shares in the company, valued at approximately $12,681,933.04. This trade represents a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the sale, the director now owns 100,923 shares in the company, valued at approximately $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,645,510 shares of company stock valued at $1,444,267,325. 12.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley reissued an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a research report on Monday. Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Mizuho lifted their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. DA Davidson increased their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird started coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price for the company. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $42.12.

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.