Arkadios Wealth Advisors Decreases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Arkadios Wealth Advisors lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 129,447 shares of the company's stock after selling 5,943 shares during the quarter. Arkadios Wealth Advisors' holdings in Palantir Technologies were worth $9,790,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of Palantir Technologies by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company's stock valued at $72,963,000 after purchasing an additional 278,544 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Palantir Technologies in the second quarter worth $350,000. Wealth Alliance purchased a new stake in shares of Palantir Technologies during the second quarter worth $247,000. Mercer Global Advisors Inc. ADV raised its stake in shares of Palantir Technologies by 18.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 189,550 shares of the company's stock valued at $4,728,000 after acquiring an additional 30,030 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in Palantir Technologies by 5.0% in the second quarter. Amalgamated Bank now owns 135,982 shares of the company's stock valued at $3,444,000 after purchasing an additional 6,472 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of PLTR stock traded up $2.53 during trading hours on Friday, hitting $71.77. The stock had a trading volume of 54,590,923 shares, compared to its average volume of 79,745,712. The firm has a market capitalization of $163.49 billion, a PE ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82. The stock's 50 day moving average is $70.49 and its 200 day moving average is $47.17. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80.

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

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. 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 company's stock in a transaction 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 transaction, the insider now owns 592 shares of the company's stock, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 over the last quarter. 12.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group increased their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Robert W. Baird started 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 on the stock. Morgan Stanley reiterated an "underweight" rating and issued a $60.00 price target on shares of Palantir Technologies in a research note on Monday, January 6th. Northland Securities increased their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a "market perform" rating in a research report on Tuesday, November 5th. Finally, UBS Group initiated coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They set a "neutral" rating and a $80.00 price objective for the company. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus target price of $43.78.

Palantir Technologies Company 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.