Quadcap Wealth Management LLC Lowers Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Quadcap Wealth Management LLC lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 37.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,037 shares of the company’s stock after selling 5,319 shares during the period. Quadcap Wealth Management LLC’s holdings in Palantir Technologies were worth $683,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Palantir Technologies during the fourth quarter valued at about $1,360,191,000. Geode Capital Management LLC grew its position in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Wellington Management Group LLP grew its position in Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after acquiring an additional 3,907,022 shares during the period. Invesco Ltd. grew its position in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. Finally, Capital World Investors purchased a new stake in Palantir Technologies during the fourth quarter valued at about $253,816,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $48,988. This represents a 99.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 6,776 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the transaction, the director now directly owns 184,617 shares of the company’s stock, valued at $15,993,370.71. This trade represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,964,290 shares of company stock worth $250,504,866. 12.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on PLTR. Morgan Stanley boosted their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. The Goldman Sachs Group boosted their price objective on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Loop Capital boosted their price objective on Palantir Technologies from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Daiwa America upgraded Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Finally, Wedbush set a $140.00 price target on Palantir Technologies and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average price target of $83.95.

Palantir Technologies Stock Down 1.6%

Shares of NASDAQ PLTR opened at $128.12 on Friday. The stock’s 50 day moving average price is $97.69 and its two-hundred day moving average price is $84.26. Palantir Technologies Inc. has a 52-week low of $20.63 and a 52-week high of $133.49. The stock has a market capitalization of $300.49 billion, a P/E ratio of 674.35, a PEG ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. On average, analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.