Foster Victor Wealth Advisors LLC Has $242,000 Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Foster Victor Wealth Advisors LLC lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 98.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,371 shares of the company's stock after selling 209,149 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Palantir Technologies were worth $242,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company's stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the period. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company's stock worth $557,365,000 after buying an additional 808,444 shares during the period. FMR LLC grew its stake in Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company's stock valued at $464,192,000 after buying an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock valued at $460,798,000 after buying an additional 4,667,955 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the sale, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $353,967,157.74. The trade was a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the transaction, the insider now directly owns 562,006 shares of the company's stock, valued at $28,077,819.76. This trade represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522 in the last three months. 12.93% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. DA Davidson boosted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Mizuho raised their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an "underperform" rating in a report on Friday, December 13th. Morgan Stanley reiterated an "underweight" rating and set a $60.00 target price on shares of Palantir Technologies in a research report on Monday, January 6th. Finally, Bank of America lifted their price objective on Palantir Technologies from $55.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and an average price target of $44.61.

Palantir Technologies Stock Up 0.3 %

Shares of NASDAQ:PLTR traded up $0.21 during mid-day trading on Thursday, reaching $79.97. 18,687,607 shares of the stock were exchanged, compared to its average volume of 66,618,477. The company has a market cap of $182.17 billion, a P/E ratio of 400.03, a P/E/G ratio of 7.08 and a beta of 2.82. The stock's 50 day simple moving average is $72.94 and its 200-day simple moving average is $50.10. Palantir Technologies Inc. has a one year low of $16.03 and a one year high of $84.80.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) 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 net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the company earned $0.03 earnings per share. The firm's revenue was up 30.0% compared to the same quarter last year. Analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal 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.