McAlister Sweet & Associates Inc. Sells 5,500 Shares of Palantir Technologies Inc. $PLTR

McAlister Sweet & Associates Inc. trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 82.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,200 shares of the company’s stock after selling 5,500 shares during the quarter. Palantir Technologies makes up approximately 0.2% of McAlister Sweet & Associates Inc.’s investment portfolio, making the stock its 25th biggest holding. McAlister Sweet & Associates Inc.’s holdings in Palantir Technologies were worth $219,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Revolve Wealth Partners LLC bought a new position in shares of Palantir Technologies in the 4th quarter worth $450,000. Bison Wealth LLC grew its stake in Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock valued at $1,296,000 after purchasing an additional 4,667 shares during the last quarter. Capstone Wealth Management Group LLC raised its holdings in Palantir Technologies by 38.0% in the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock worth $1,447,000 after purchasing an additional 4,722 shares in the last quarter. Algert Global LLC bought a new position in Palantir Technologies in the first quarter worth about $2,246,000. Finally, Freestone Capital Holdings LLC boosted its holdings in shares of Palantir Technologies by 3.5% in the 1st quarter. Freestone Capital Holdings LLC now owns 12,696 shares of the company’s stock valued at $1,072,000 after buying an additional 429 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PLTR. Weiss Ratings reissued a “hold (c+)” rating on shares of Palantir Technologies in a research report on Monday, December 8th. Mizuho increased their price objective on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Cantor Fitzgerald boosted their target price on Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Daiwa Capital Markets increased their price target on Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Finally, Wall Street Zen downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Four analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $172.28.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $183.25 on Tuesday. The business has a fifty day moving average of $179.39 and a 200 day moving average of $164.33. Palantir Technologies Inc. has a 1 year low of $63.40 and a 1 year high of $207.52. The firm has a market capitalization of $436.76 billion, a price-to-earnings ratio of 436.32, a price-to-earnings-growth ratio of 7.12 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The company’s revenue was up 62.8% on a year-over-year basis. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 308,635 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $50,613,053.65. Following the completion of the transaction, the insider directly owned 592 shares in the company, valued at $97,082.08. The trade was a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 359,325 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $58,925,706.75. Following the completion of the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $1,054,825,989.42. The trade was a 5.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,008,844 shares of company stock worth $164,676,161 in the last ninety days. 9.23% of the stock is owned by company insiders.

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.