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

DGS Capital Management LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 36.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,059 shares of the company’s stock after selling 7,354 shares during the period. DGS Capital Management LLC’s holdings in Palantir Technologies were worth $988,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. AM Investment Strategies LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $262,000. McGuire Investment Group LLC increased its position in shares of Palantir Technologies by 35.1% during the fourth quarter. McGuire Investment Group LLC now owns 212,742 shares of the company’s stock worth $16,090,000 after purchasing an additional 55,330 shares in the last quarter. Benin Management CORP purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at about $303,000. Exchange Traded Concepts LLC boosted its position in shares of Palantir Technologies by 17.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 134,773 shares of the company’s stock valued at $10,193,000 after purchasing an additional 20,184 shares during the period. Finally, Berbice Capital Management LLC purchased a new position in Palantir Technologies during the 4th quarter worth approximately $102,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity

In other news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the sale, the insider now owns 592 shares in the company, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,518,855 shares of company stock worth $1,438,682,423 over the last ninety days. 12.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PLTR shares. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a report on Thursday, November 7th. Morgan Stanley reiterated an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a research note on Monday, January 6th. Wedbush lifted their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday. Robert W. Baird assumed coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price for the company. Finally, Northland Securities raised their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.61.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $78.98 on Friday. The stock has a fifty day moving average price of $71.96 and a 200 day moving average price of $48.89. The stock has a market cap of $179.92 billion, a PE ratio of 394.92, a P/E/G ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Palantir Technologies 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.