Oder Investment Management LLC Reduces Stake in Palantir Technologies Inc. (NYSE:PLTR)

Oder Investment Management LLC lowered its stake in Palantir Technologies Inc. (NYSE:PLTR) by 12.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,688 shares of the company’s stock after selling 8,960 shares during the quarter. Palantir Technologies makes up 1.0% of Oder Investment Management LLC’s investment portfolio, making the stock its 25th largest position. Oder Investment Management LLC’s holdings in Palantir Technologies were worth $1,042,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Balboa Wealth Partners bought a new stake in Palantir Technologies in the 3rd quarter worth approximately $235,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Palantir Technologies by 5.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 1,225,872 shares of the company’s stock valued at $19,614,000 after purchasing an additional 60,240 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of Palantir Technologies in the third quarter worth $734,000. Robeco Institutional Asset Management B.V. increased its stake in Palantir Technologies by 488.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,052,427 shares of the company’s stock valued at $16,839,000 after purchasing an additional 873,730 shares in the last quarter. Finally, Xponance Inc. grew its position in Palantir Technologies by 1.4% in the 3rd quarter. Xponance Inc. now owns 267,590 shares of the company’s stock worth $4,281,000 after purchasing an additional 3,651 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the transaction, the director now directly owns 181,830 shares of the company’s stock, valued at $4,563,933. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the transaction, the director now owns 181,830 shares in the company, valued at approximately $4,563,933. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter Thiel sold 7,044,756 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the sale, the director now owns 70,806,432 shares of the company’s stock, valued at approximately $1,755,291,449.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,456,273 shares of company stock worth $184,343,202. 13.96% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PLTR shares. Raymond James upped their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a report on Wednesday, February 14th. Bank of America increased their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Wedbush reiterated an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Finally, Mizuho increased their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Price Performance

Shares of PLTR stock traded down $0.12 during trading hours on Wednesday, hitting $21.85. The company had a trading volume of 12,654,995 shares, compared to its average volume of 61,337,230. Palantir Technologies Inc. has a fifty-two week low of $7.28 and a fifty-two week high of $27.50. The company’s fifty day moving average is $23.39 and its 200 day moving average is $20.14. The stock has a market capitalization of $48.35 billion, a PE ratio of 242.69, a price-to-earnings-growth ratio of 5.60 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The business had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. Equities analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.