Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by FORA Capital LLC

FORA Capital LLC cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 52.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 170,678 shares of the company’s stock after selling 188,978 shares during the period. Palantir Technologies makes up about 1.5% of FORA Capital LLC’s holdings, making the stock its 8th biggest position. FORA Capital LLC’s holdings in Palantir Technologies were worth $12,908,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Fred Alger Management LLC raised its holdings in Palantir Technologies by 58.4% during the 4th quarter. Fred Alger Management LLC now owns 482,700 shares of the company’s stock worth $36,507,000 after buying an additional 178,038 shares during the period. Family Management Corp acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $204,000. FWL Investment Management LLC boosted its stake in Palantir Technologies by 33.9% in the 4th quarter. FWL Investment Management LLC now owns 12,108 shares of the company’s stock worth $916,000 after purchasing an additional 3,067 shares during the period. Clear Street Derivatives LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at $216,953,000. Finally, Deutsche Bank AG boosted its position in shares of Palantir Technologies by 19.2% in the fourth quarter. Deutsche Bank AG now owns 6,785,225 shares of the company’s stock worth $513,167,000 after buying an additional 1,091,299 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 6,776 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the transaction, the director now owns 184,617 shares in the company, valued at $15,993,370.71. This trade represents a 3.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,978,181 shares of company stock valued at $252,115,667 in the last 90 days. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $110.43 on Thursday. The stock has a market cap of $259.00 billion, a P/E ratio of 581.24, a PEG ratio of 10.84 and a beta of 2.68. The company has a fifty day moving average price of $92.85 and a 200 day moving average price of $80.95. Palantir Technologies Inc. has a one year low of $20.50 and a one year high of $125.41.

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

Wall Street Analyst Weigh In

PLTR has been the subject of several research analyst reports. Bank of America increased their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Loop Capital boosted their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group boosted their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. UBS Group lifted their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, DA Davidson raised their price target on Palantir Technologies from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $83.70.

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.