Highland Capital Management LLC Sells 17,376 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Highland Capital Management LLC lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 48.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,616 shares of the company’s stock after selling 17,376 shares during the period. Highland Capital Management LLC’s holdings in Palantir Technologies were worth $1,408,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ibex Wealth Advisors acquired a new stake in Palantir Technologies in the 4th quarter valued at $13,417,000. Swedbank AB bought a new position in Palantir Technologies in the 4th quarter valued at about $31,491,000. Allen Capital Group LLC acquired a new position in Palantir Technologies during the 4th quarter valued at about $287,000. Strategic Blueprint LLC increased its holdings in Palantir Technologies by 128.6% during the 4th quarter. Strategic Blueprint LLC now owns 19,795 shares of the company’s stock worth $1,497,000 after purchasing an additional 11,137 shares in the last quarter. Finally, Diversified Investment Strategies LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $242,000. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Bank of America upped their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research report on Thursday, November 7th. Cantor Fitzgerald initiated coverage on shares of Palantir Technologies in a research report on Friday, January 17th. They issued a “neutral” rating and a $72.00 price objective for the company. Finally, Robert W. Baird assumed coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price on the stock. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $44.61.

Insider Activity

In other news, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the sale, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $28,077,819.76. This represents a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,181,807 shares of company stock worth $1,288,448,522. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Up 1.8 %

Shares of NASDAQ:PLTR opened at $81.22 on Friday. The company has a 50-day moving average price of $72.94 and a two-hundred day moving average price of $50.10. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The firm has a market capitalization of $185.02 billion, a PE ratio of 406.12, a P/E/G ratio of 7.29 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business 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%. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. Analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal 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.