Factory Mutual Insurance Co. Sells 50,000 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Factory Mutual Insurance Co. reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 18.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 218,857 shares of the company’s stock after selling 50,000 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Palantir Technologies were worth $16,552,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Kennebec Savings Bank boosted its stake in Palantir Technologies by 29.5% during the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after acquiring an additional 159 shares in the last quarter. RMR Wealth Builders boosted its stake in Palantir Technologies by 2.4% during the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after acquiring an additional 167 shares in the last quarter. Bay Rivers Group boosted its stake in Palantir Technologies by 2.7% during the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after acquiring an additional 171 shares in the last quarter. Christensen King & Associates Investment Services Inc. boosted its stake in Palantir Technologies by 3.0% during the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after acquiring an additional 174 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in Palantir Technologies by 1.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 14,406 shares of the company’s stock worth $1,090,000 after acquiring an additional 196 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. This trade represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total transaction of $999,200.00. Following the sale, the insider now owns 562,006 shares of the company’s stock, valued at approximately $28,077,819.76. The trade was a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,181,807 shares of company stock worth $1,288,448,522 over the last quarter. 12.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PLTR shares. Bank of America increased 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. Morgan Stanley reaffirmed an “underweight” rating and issued a $60.00 price objective on shares of Palantir Technologies in a research note on Monday, January 6th. Robert W. Baird started coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price objective on the stock. UBS Group started coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective on the stock. Finally, Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research note on Thursday, November 7th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $44.61.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $82.49 on Friday. The company has a market capitalization of $187.91 billion, a PE ratio of 412.47, a price-to-earnings-growth ratio of 7.29 and a beta of 2.82. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $85.22. The company has a 50-day simple moving average of $73.34 and a 200 day simple moving average of $50.31.

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