BluePath Capital Management LLC Sells 5,761 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

BluePath Capital Management LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 17.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,635 shares of the company’s stock after selling 5,761 shares during the quarter. Palantir Technologies comprises about 1.1% of BluePath Capital Management LLC’s holdings, making the stock its 18th biggest holding. BluePath Capital Management LLC’s holdings in Palantir Technologies were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the third quarter worth $25,000. Prestige Wealth Management Group LLC lifted its position in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the period. Wolff Wiese Magana LLC boosted its stake in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies during the second quarter worth about $30,000. Finally, Ashburton Jersey Ltd purchased a new stake in Palantir Technologies in the second quarter worth about $36,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $68.14 on Thursday. The stock has a 50 day moving average price of $69.70 and a 200 day moving average price of $46.54. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80. The firm has a market capitalization of $155.22 billion, a P/E ratio of 340.72, a P/E/G ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) 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 net margin of 18.01% and a return on equity of 9.94%. The business’s revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now directly owns 100,923 shares in the company, valued at $7,748,867.94. The trade was a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 123,334 shares of the stock in a transaction dated 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 owns 331,369 shares in the company, valued at approximately $14,911,605. The trade was a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,642,189 shares of company stock worth $1,444,232,453 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Robert W. Baird assumed coverage on Palantir Technologies in a research report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price target on the stock. Wedbush raised their price target on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. UBS Group began coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target for the company. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research report on Thursday, November 7th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a report on Monday, January 6th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.12.

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.