Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 506,338 shares of the company’s stock after selling 27,029 shares during the quarter. Palantir Technologies makes up approximately 6.2% of Sargent Investment Group LLC’s portfolio, making the stock its 3rd largest holding. Sargent Investment Group LLC’s holdings in Palantir Technologies were worth $38,294,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC grew its stake in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after acquiring an additional 808,444 shares in the last quarter. FMR LLC raised its holdings in Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after acquiring an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Palantir Technologies by 60.5% in 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 in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 24.0 %

NASDAQ:PLTR opened at $103.83 on Wednesday. Palantir Technologies Inc. has a 52 week low of $16.48 and a 52 week high of $106.91. The company has a market cap of $236.53 billion, a price-to-earnings ratio of 519.18, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. The company has a fifty day simple moving average of $74.09 and a two-hundred day simple moving average of $51.39.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 earnings per share. On average, analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $353,967,157.74. The trade was a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,153,753 shares of company stock worth $1,287,042,675 over the last 90 days. 12.93% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PLTR. DA Davidson upped their price target on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday. Northland Securities raised their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $95.00 in a research report on Tuesday. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Robert W. Baird increased their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.89.

Palantir Technologies Company 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.