Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by InTrack Investment Management Inc

InTrack Investment Management Inc reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,029 shares of the company's stock after selling 10,517 shares during the period. Palantir Technologies makes up 3.6% of InTrack Investment Management Inc's portfolio, making the stock its 4th largest holding. InTrack Investment Management Inc's holdings in Palantir Technologies were worth $5,221,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of PLTR. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies during the 3rd quarter worth about $25,000. Prestige Wealth Management Group LLC boosted its position in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company's stock valued at $27,000 after buying an additional 650 shares during the period. Wolff Wiese Magana LLC boosted its position in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after buying an additional 265 shares during the period. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at about $30,000. Finally, Ashburton Jersey Ltd bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at about $36,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Up 3.7 %

Shares of PLTR traded up $2.53 during trading on Friday, reaching $71.77. 54,590,923 shares of the company traded hands, compared to its average volume of 79,745,712. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The stock has a market cap of $163.49 billion, a PE ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82. The stock has a 50-day simple moving average of $70.49 and a 200-day simple moving average of $47.17.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share 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 business had revenue of $725.52 million during the quarter, compared to analysts' expectations of $705.11 million. During the same period last year, the business earned $0.03 earnings per share. The business's revenue for the quarter was up 30.0% on a year-over-year basis. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 of the company's stock, valued at $52,755,242.88. This trade represents a 87.46 % 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 worth $1,444,232,453 over the last three months. Insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley reiterated an "underweight" rating and set a $60.00 price objective on shares of Palantir Technologies in a research note on Monday, January 6th. Robert W. Baird assumed coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They issued a "neutral" rating and a $70.00 price objective on the stock. Wedbush increased their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, November 25th. Northland Securities increased their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 5th. Finally, Baird R W upgraded shares of Palantir Technologies to a "hold" rating in a research note on Thursday, December 12th. 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 company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $43.78.

Palantir Technologies 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.