Cascade Investment Group Inc. Cuts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Cascade Investment Group Inc. reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 14.1% during the fourth quarter, Holdings Channel reports. The fund owned 5,925 shares of the company’s stock after selling 975 shares during the period. Cascade Investment Group Inc.’s holdings in Palantir Technologies were worth $448,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. RMR Wealth Builders raised its position in Palantir Technologies by 2.4% in the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after purchasing an additional 167 shares during the period. Christensen King & Associates Investment Services Inc. increased its holdings in shares of Palantir Technologies by 3.0% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after buying an additional 174 shares during the period. ST Germain D J Co. Inc. lifted its stake 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 acquiring an additional 200 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV boosted its holdings in Palantir Technologies by 1.2% during 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 acquiring an additional 235 shares during the period. Finally, Greater Midwest Financial Group LLC grew its position in Palantir Technologies by 0.3% during the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after acquiring an additional 250 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 3.7 %

NASDAQ PLTR opened at $71.77 on Monday. The business’s fifty day simple moving average is $70.49 and its 200-day simple moving average is $47.32. The firm has a market cap of $163.49 billion, a PE ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the firm posted $0.03 earnings per share. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. Research analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. Robert W. Baird initiated coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. UBS Group assumed coverage on Palantir Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target for the company. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $60.00 price objective on shares of Palantir Technologies in a research report on Monday, January 6th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $43.78.

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.