Milestone Asset Management LLC Sells 24,616 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Milestone Asset Management LLC cut its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 42.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,041 shares of the company's stock after selling 24,616 shares during the quarter. Milestone Asset Management LLC's holdings in Palantir Technologies were worth $2,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies in the 3rd quarter valued at approximately $25,000. Prestige Wealth Management Group LLC grew its holdings in Palantir Technologies by 747.1% during 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 last quarter. First PREMIER Bank acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $28,000. Wolff Wiese Magana LLC boosted its holdings in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after purchasing an additional 265 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies during the second quarter worth $30,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 2.1 %

NASDAQ:PLTR traded up $1.65 during midday trading on Thursday, hitting $81.41. 33,864,072 shares of the stock were exchanged, compared to its average volume of 67,469,656. Palantir Technologies Inc. has a one year low of $16.03 and a one year high of $84.80. The company has a market capitalization of $185.45 billion, a price-to-earnings ratio of 406.67, a P/E/G ratio of 7.08 and a beta of 2.82. The business has a 50-day moving average price of $72.94 and a two-hundred day moving average price of $50.10.

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

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $353,967,157.74. The trade was a 41.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the business's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522. Corporate insiders own 12.93% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PLTR shares. Bank of America increased their target price on Palantir Technologies from $55.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Baird R W raised Palantir Technologies to a "hold" rating in a research report on Thursday, December 12th. Jefferies Financial Group lowered Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. Morgan Stanley reissued an "underweight" rating and issued a $60.00 price objective on shares of Palantir Technologies in a research report on Monday, January 6th. Finally, Mizuho raised their price objective on Palantir Technologies from $37.00 to $44.00 and gave the company an "underperform" rating in a research report on Friday, December 13th. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $44.61.

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.