Montchanin Asset Management LLC Sells 5,400 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Montchanin Asset Management LLC cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 25.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,800 shares of the company’s stock after selling 5,400 shares during the period. Palantir Technologies accounts for 1.2% of Montchanin Asset Management LLC’s holdings, making the stock its 18th biggest holding. Montchanin Asset Management LLC’s holdings in Palantir Technologies were worth $1,195,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in Palantir Technologies in the 4th quarter valued at $1,360,191,000. Geode Capital Management LLC boosted its holdings in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after purchasing an additional 3,907,022 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $253,816,000. 45.65% of the stock is currently owned by institutional investors.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,931,701 shares of company stock worth $373,180,433. Insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Performance

PLTR stock opened at $123.31 on Friday. Palantir Technologies Inc. has a one year low of $20.64 and a one year high of $133.49. The firm has a market cap of $289.21 billion, a price-to-earnings ratio of 649.03, a PEG ratio of 10.84 and a beta of 2.68. The firm has a 50-day simple moving average of $102.66 and a two-hundred day simple moving average of $87.59.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. Palantir Technologies’s revenue was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PLTR shares. Daiwa America raised shares of Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Morgan Stanley increased their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Robert W. Baird lifted their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Royal Bank of Canada restated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Daiwa Capital Markets started coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 target price for the company. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $83.95.

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.