Palantir Technologies Inc. (NASDAQ:PLTR) Stock Position Reduced by Oak Harvest Investment Services

Oak Harvest Investment Services trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 38.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,728 shares of the company’s stock after selling 17,927 shares during the quarter. Oak Harvest Investment Services’ holdings in Palantir Technologies were worth $2,173,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC grew its position in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the last quarter. First PREMIER Bank bought a new position in shares of Palantir Technologies in the fourth quarter valued at $28,000. Wolff Wiese Magana LLC lifted its position in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies during the 2nd quarter worth $30,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $81.22 on Friday. The stock’s fifty day moving average price is $72.94 and its two-hundred day moving average price is $50.10. The company has a market cap of $185.02 billion, a price-to-earnings ratio of 406.12, a P/E/G ratio of 7.29 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 released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping 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 quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 EPS. On average, equities analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the sale, the director now owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522. 12.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Bank of America upped their target price on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Wedbush boosted their price target on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Cantor Fitzgerald started coverage on shares of Palantir Technologies in a research report on Friday, January 17th. They set a “neutral” rating and a $72.00 price objective on the stock. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Morgan Stanley restated an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $44.61.

Palantir Technologies Company 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.