StrongBox Wealth LLC Cuts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

StrongBox Wealth LLC lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,995 shares of the company’s stock after selling 614 shares during the period. StrongBox Wealth LLC’s holdings in Palantir Technologies were worth $983,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PLTR. RMR Wealth Builders increased its position in shares of Palantir Technologies by 2.4% in the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after purchasing an additional 167 shares during the last quarter. Christensen King & Associates Investment Services Inc. increased its position in shares of Palantir Technologies by 3.0% in the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock valued at $486,000 after purchasing an additional 174 shares during the last quarter. ST Germain D J Co. Inc. increased its position in shares of Palantir Technologies by 4.4% in the 4th quarter. ST Germain D J Co. Inc. now owns 4,780 shares of the company’s stock valued at $362,000 after purchasing an additional 200 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV increased its position in shares of Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after purchasing an additional 235 shares during the last quarter. Finally, Greater Midwest Financial Group LLC increased its position in shares of Palantir Technologies by 0.3% in the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after purchasing an additional 250 shares during 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 recently commented on the stock. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. DA Davidson increased their target price 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. Morgan Stanley reaffirmed an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a research report on Monday, January 6th. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Northland Securities increased their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.12.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 in the last ninety days. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Trading Up 3.4 %

NASDAQ PLTR opened at $68.14 on Thursday. The stock has a market capitalization of $155.22 billion, a price-to-earnings ratio of 340.72, a PEG ratio of 6.24 and a beta of 2.82. The business’s 50 day moving average is $69.70 and its two-hundred day moving average is $46.54. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data 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. 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 quarter in the prior year, the company posted $0.03 earnings per share. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. Equities analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

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.