Shikiar Asset Management Inc. Decreases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Shikiar Asset Management Inc. trimmed its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,000 shares of the company’s stock after selling 500 shares during the period. Shikiar Asset Management Inc.’s holdings in Palantir Technologies were worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. Charles Schwab Investment Management Inc. raised its position in shares of 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 purchasing an additional 4,667,955 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after acquiring an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after purchasing an additional 87,062 shares in the last quarter. Tyler Stone Wealth Management lifted its holdings in Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after purchasing an additional 99,921 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Palantir Technologies during the 3rd quarter worth about $639,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PLTR shares. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. DA Davidson increased their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. UBS Group began coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective for the company. Cantor Fitzgerald started coverage on Palantir Technologies in a research report on Friday. They set a “neutral” rating and a $72.00 target price on the stock. Finally, Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $43.78.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $71.77 on Friday. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The business’s 50-day moving average is $70.49 and its two-hundred day moving average is $47.17. The firm has a market capitalization of $163.49 billion, a PE ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the company posted $0.03 EPS. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. Equities analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Activity

In related news, insider Ryan D. Taylor sold 123,334 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $5,550,030.00. Following the transaction, the insider now owns 331,369 shares in the company, valued at approximately $14,911,605. The trade was a 27.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is currently owned by company insiders.

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.