Spirepoint Private Client LLC Decreases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Spirepoint Private Client LLC reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,497 shares of the company’s stock after selling 11,278 shares during the quarter. Palantir Technologies comprises about 2.1% of Spirepoint Private Client LLC’s holdings, making the stock its 7th biggest holding. Spirepoint Private Client LLC’s holdings in Palantir Technologies were worth $16,979,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First PREMIER Bank purchased a new position in Palantir Technologies in the fourth quarter worth $28,000. Wolff Wiese Magana LLC lifted 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 purchasing an additional 265 shares during the last quarter. R Squared Ltd purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $33,000. Valley National Advisers Inc. increased its position in shares of Palantir Technologies by 181.3% during the 4th quarter. Valley National Advisers Inc. now owns 512 shares of the company’s stock valued at $38,000 after purchasing an additional 330 shares during the last quarter. Finally, Concord Wealth Partners raised its holdings in shares of Palantir Technologies by 132.2% during the 4th quarter. Concord Wealth Partners now owns 527 shares of the company’s stock valued at $40,000 after buying an additional 300 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $514,411.60. Following the sale, the director now directly owns 121,390 shares of the company’s stock, valued at $7,047,903.40. This trade represents a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.10, for a total value of $283,950,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $405,875,479.80. This trade represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,653,753 shares of company stock worth $1,039,407,675. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $95.00 in a research report on Tuesday. Jefferies Financial Group increased their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday. Royal Bank of Canada boosted their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Citigroup lifted their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Trading Down 2.4 %

Palantir Technologies stock opened at $101.36 on Thursday. Palantir Technologies Inc. has a 12 month low of $19.76 and a 12 month high of $106.91. The company has a market capitalization of $230.90 billion, a price-to-earnings ratio of 506.83, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. The business’s fifty day simple moving average is $75.56 and its two-hundred day simple moving average is $52.26.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate 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 for the quarter was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

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.