Palantir Technologies Inc. $PLTR Stake Lowered by Western Financial Corp CA

Western Financial Corp CA decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 24.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,335 shares of the company’s stock after selling 10,403 shares during the period. Palantir Technologies makes up approximately 2.3% of Western Financial Corp CA’s holdings, making the stock its 6th biggest position. Western Financial Corp CA’s holdings in Palantir Technologies were worth $5,748,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PLTR. Bare Financial Services Inc raised its holdings in Palantir Technologies by 54.5% in the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock worth $28,000 after buying an additional 55 shares during the last quarter. Financial Consulate Inc. purchased a new stake in shares of Palantir Technologies during the third quarter valued at approximately $30,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Palantir Technologies during the third quarter valued at approximately $31,000. United Financial Planning Group LLC bought a new stake in shares of Palantir Technologies during the third quarter valued at approximately $32,000. Finally, Flagship Wealth Advisors LLC bought a new stake in shares of Palantir Technologies during the third quarter valued at approximately $32,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on PLTR. Argus raised Palantir Technologies to a “hold” rating in a research report on Monday, February 9th. Robert W. Baird upgraded Palantir Technologies from a “neutral” rating to an “outperform” rating and set a $200.00 price target for the company in a research note on Tuesday, February 3rd. Northland Securities raised Palantir Technologies from a “market perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a report on Tuesday, February 3rd. Citigroup increased their price objective on Palantir Technologies from $235.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $230.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $197.77.

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 493,025 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $133.78, for a total value of $65,956,884.50. Following the transaction, the insider owned 6,432,258 shares in the company, valued at $860,507,475.24. This represents a 7.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan D. Taylor sold 19,988 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $133.72, for a total transaction of $2,672,795.36. Following the completion of the transaction, the insider directly owned 219,421 shares in the company, valued at approximately $29,340,976.12. The trade was a 8.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,029,879 shares of company stock valued at $137,746,253 in the last 90 days. Insiders own 9.23% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $148.46 on Monday. The company has a market cap of $355.07 billion, a PE ratio of 235.65, a price-to-earnings-growth ratio of 2.94 and a beta of 1.68. The company has a 50 day simple moving average of $145.80 and a two-hundred day simple moving average of $167.71. Palantir Technologies Inc. has a 12 month low of $66.12 and a 12 month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, February 2nd. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Palantir Technologies had a return on equity of 23.81% and a net margin of 36.31%.The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the firm earned $0.14 EPS. The company’s revenue was up 70.0% compared to the same quarter last year. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies Profile

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.