CCG Wealth Management LLC Decreases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

CCG Wealth Management LLC decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 29.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,501 shares of the company’s stock after selling 2,309 shares during the quarter. CCG Wealth Management LLC’s holdings in Palantir Technologies were worth $416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp grew its position in Palantir Technologies by 21.5% during the second quarter. Truist Financial Corp now owns 449,356 shares of the company’s stock valued at $11,382,000 after buying an additional 79,618 shares during the period. Sanctuary Advisors LLC purchased a new position in Palantir Technologies during the second quarter worth about $3,587,000. Massmutual Trust Co. FSB ADV increased its position in shares of Palantir Technologies by 36.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 2,753 shares of the company’s stock valued at $102,000 after acquiring an additional 741 shares during the last quarter. Czech National Bank acquired a new position in shares of Palantir Technologies in the third quarter valued at approximately $15,261,000. Finally, Quent Capital LLC grew its holdings in shares of Palantir Technologies by 240.1% in the third quarter. Quent Capital LLC now owns 4,728 shares of the company’s stock valued at $176,000 after purchasing an additional 3,338 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $82.49 on Monday. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $85.22. The stock’s 50 day moving average price is $73.71 and its 200 day moving average price is $50.84. The company has a market capitalization of $187.91 billion, a P/E ratio of 412.47, a P/E/G ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last issued its 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. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business earned $0.03 earnings per share. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird assumed 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. DA Davidson increased their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Wedbush increased their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley reissued an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a research report on Monday, January 6th. Seven research 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, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $44.61.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now owns 592 shares in the company, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the transaction, the director now directly owns 130,250 shares in the company, valued at $6,576,322.50. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,181,807 shares of company stock valued at $1,288,448,522. 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.