Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Friedenthal Financial

Friedenthal Financial cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 53.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,362 shares of the company's stock after selling 12,117 shares during the quarter. Friedenthal Financial's holdings in Palantir Technologies were worth $784,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company's stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC increased its stake in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company's stock worth $254,162,000 after purchasing an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 4,667,955 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company's stock worth $89,926,000 after purchasing an additional 3,038,861 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on PLTR shares. Baird R W upgraded shares of Palantir Technologies to a "hold" rating in a report on Thursday, December 12th. William Blair reissued an "underperform" rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Jefferies Financial Group lowered shares of Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. Robert W. Baird started coverage on Palantir Technologies in a report on Thursday, December 12th. They issued a "neutral" rating and a $70.00 price target for the company. Finally, Morgan Stanley restated an "underweight" rating and set a $60.00 price objective on shares of Palantir Technologies in a research note on Monday, January 6th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $42.12.

Palantir Technologies Trading Down 3.4 %

PLTR stock traded down $2.28 during mid-day trading on Monday, hitting $64.98. 68,462,399 shares of the company were exchanged, compared to its average volume of 81,411,188. The firm has a fifty day simple moving average of $69.40 and a 200 day simple moving average of $46.26. The company has a market capitalization of $148.03 billion, a PE ratio of 324.92, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. 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 posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping 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 business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the firm earned $0.03 earnings per share. The company's revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Activity

In related news, insider Shyam Sankar sold 5,250,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is currently owned by insiders.

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.