Foster Victor Wealth Advisors LLC Lowers Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Foster Victor Wealth Advisors LLC lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 98.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,371 shares of the company’s stock after selling 209,149 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Palantir Technologies were worth $242,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PLTR. Thrivent Financial for Lutherans grew its position in shares of Palantir Technologies by 20.9% during the second quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock worth $1,336,000 after buying an additional 9,109 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Palantir Technologies by 14.9% in the 2nd quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock valued at $332,000 after purchasing an additional 1,702 shares during the last quarter. Quarry LP raised its holdings in shares of Palantir Technologies by 193.1% in the 2nd quarter. Quarry LP now owns 4,200 shares of the company’s stock valued at $106,000 after purchasing an additional 2,767 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of Palantir Technologies by 20.3% during the 2nd quarter. EP Wealth Advisors LLC now owns 17,132 shares of the company’s stock worth $434,000 after purchasing an additional 2,896 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in Palantir Technologies by 21.5% in 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 last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PLTR. UBS Group started coverage on Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target for the company. Bank of America upped their price target on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Northland Securities boosted their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Wedbush increased their price objective on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Seven 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. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $44.61.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Down 0.6 %

Shares of PLTR stock opened at $79.76 on Thursday. The stock has a market cap of $181.69 billion, a P/E ratio of 398.82, a P/E/G ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The business has a fifty day simple moving average of $72.59 and a 200-day simple moving average of $49.89.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating 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 firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the firm posted $0.03 EPS. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

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.