Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 34.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,117,509 shares of the company’s stock after selling 575,381 shares during the period. Palantir Technologies makes up 2.8% of Salem Investment Counselors Inc.’s portfolio, making the stock its 8th largest holding. Salem Investment Counselors Inc.’s holdings in Palantir Technologies were worth $84,517,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies in the third quarter valued at $25,000. Prestige Wealth Management Group LLC increased its position in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies in the second quarter valued at $30,000. Ashburton Jersey Ltd purchased a new position in shares of Palantir Technologies in the second quarter valued at $36,000. Finally, Creekmur Asset Management LLC increased its position in shares of Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after buying an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Bank of America raised their price target on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, DA Davidson raised 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. Seven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.12.

Palantir Technologies Trading Down 3.9 %

NASDAQ:PLTR traded down $2.65 on Monday, reaching $64.61. The stock had a trading volume of 46,160,303 shares, compared to its average volume of 78,033,000. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80. The stock has a market cap of $147.18 billion, a P/E ratio of 323.07, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. The company has a 50-day moving average of $68.93 and a 200 day moving average of $45.98.

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. The firm had revenue of $725.52 million during 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%. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. On average, equities analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 123,334 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the transaction, the insider now directly owns 331,369 shares in the company, valued at $14,911,605. This trade represents a 27.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $42,002.40. This represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

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.