Brand Asset Management Group Inc. Has $3.11 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Brand Asset Management Group Inc. trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 36.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,052 shares of the company's stock after selling 23,683 shares during the period. Palantir Technologies makes up approximately 1.3% of Brand Asset Management Group Inc.'s investment portfolio, making the stock its 20th largest holding. Brand Asset Management Group Inc.'s holdings in Palantir Technologies were worth $3,105,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp lifted its stake 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 acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC lifted its position in 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 purchasing an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in 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 valued at $557,365,000 after purchasing an additional 808,444 shares in the last quarter. FMR LLC increased its position in shares of Palantir Technologies by 8.8% during the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company's stock valued at $464,192,000 after purchasing an additional 1,004,603 shares during the period. Finally, Charles Schwab Investment Management Inc. raised 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 worth $460,798,000 after buying an additional 4,667,955 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 3,337,048 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now owns 100,923 shares of the company's stock, valued at $7,748,867.94. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 in the last quarter. Insiders own 12.93% of the company's stock.

Palantir Technologies Price Performance

NASDAQ:PLTR traded up $2.53 during mid-day trading on Friday, reaching $71.77. The stock had a trading volume of 54,590,923 shares, compared to its average volume of 79,745,712. The stock has a market cap of $163.49 billion, a P/E ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The business's 50 day moving average is $70.49 and its 200 day moving average is $47.17.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $705.11 million. During the same quarter in the prior year, the company posted $0.03 EPS. The firm's revenue was up 30.0% on a year-over-year basis. Equities analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PLTR shares. DA Davidson lifted their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Raymond James lowered shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a research note on Monday, September 23rd. UBS Group began coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They issued a "neutral" rating and a $80.00 price target on the stock. Wedbush increased their price objective on Palantir Technologies from $57.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, November 25th. Finally, Argus cut Palantir Technologies from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and an average target price of $43.78.

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.