Nvwm LLC Sells 24,971 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Nvwm LLC cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 65.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,940 shares of the company’s stock after selling 24,971 shares during the quarter. Nvwm LLC’s holdings in Palantir Technologies were worth $979,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC boosted its holdings in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the period. First PREMIER Bank purchased a new stake in Palantir Technologies in the 4th quarter worth $28,000. Wolff Wiese Magana LLC raised its holdings in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Palantir Technologies in the fourth quarter valued at about $33,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,153,753 shares of company stock worth $1,287,042,675. 12.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PLTR. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $95.00 in a research report on Tuesday. Northland Securities lifted their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Jefferies Financial Group lifted 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. Finally, Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $64.89.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $103.83 on Wednesday. The company has a market cap of $236.53 billion, a P/E ratio of 519.18, a PEG ratio of 7.54 and a beta of 2.81. The firm has a 50-day simple moving average of $74.85 and a two-hundred day simple moving average of $51.92. Palantir Technologies Inc. has a 1 year low of $16.48 and a 1 year high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the previous year, the business earned $0.03 EPS. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

About Palantir Technologies

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.