Insight Wealth Strategies LLC Decreases Stock Position in Palantir Technologies Inc. $PLTR

Insight Wealth Strategies LLC lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTRFree Report) by 24.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 27,082 shares of the company’s stock after selling 8,532 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Palantir Technologies were worth $4,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Decker Retirement Planning Inc. raised its position in shares of Palantir Technologies by 778.7% in the third quarter. Decker Retirement Planning Inc. now owns 61,326 shares of the company’s stock valued at $11,187,000 after purchasing an additional 54,347 shares during the period. Prentice Wealth Management LLC purchased a new stake in shares of Palantir Technologies during the 3rd quarter valued at approximately $550,000. Watershed Private Wealth LLC boosted its holdings in Palantir Technologies by 75.3% in the 3rd quarter. Watershed Private Wealth LLC now owns 7,798 shares of the company’s stock worth $1,423,000 after buying an additional 3,350 shares during the period. GAM Holding AG grew its stake in Palantir Technologies by 39.0% in the 3rd quarter. GAM Holding AG now owns 13,788 shares of the company’s stock valued at $2,515,000 after buying an additional 3,868 shares in the last quarter. Finally, Pinkerton Wealth LLC purchased a new position in Palantir Technologies in the 2nd quarter valued at approximately $3,394,000. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider David A. Glazer sold 17,438 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $133.72, for a total value of $2,331,809.36. Following the transaction, the insider directly owned 392,370 shares in the company, valued at approximately $52,467,716.40. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 493,025 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $133.78, for a total transaction of $65,956,884.50. Following the completion of the sale, the insider directly owned 6,432,258 shares in the company, valued at $860,507,475.24. This represents a 7.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,045,279 shares of company stock valued at $140,539,043 in the last ninety days. Insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $152.77 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $66.12 and a fifty-two week high of $207.52. The stock has a market cap of $365.38 billion, a P/E ratio of 242.50, a PEG ratio of 3.07 and a beta of 1.70. The firm’s fifty day moving average price is $151.49 and its 200-day moving average price is $168.73.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last posted its earnings results on Monday, February 2nd. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Palantir Technologies had a return on equity of 23.81% and a net margin of 36.31%.The firm’s revenue was up 70.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PLTR shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $200.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 3rd. Daiwa Securities Group upgraded Palantir Technologies from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday, February 10th. Loop Capital decreased their price objective on Palantir Technologies from $230.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Jefferies Financial Group set a $208.00 price objective on Palantir Technologies in a report on Thursday, January 22nd. Finally, UBS Group raised their target price on Palantir Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $196.32.

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Palantir Technologies News Roundup

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Palantir Technologies Profile

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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