Western Pacific Wealth Management LP Has $3.74 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Western Pacific Wealth Management LP lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 22.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,409 shares of the company's stock after selling 14,406 shares during the period. Palantir Technologies comprises about 3.0% of Western Pacific Wealth Management LP's investment portfolio, making the stock its 10th biggest holding. Western Pacific Wealth Management LP's holdings in Palantir Technologies were worth $3,737,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. McAdam LLC lifted its stake in Palantir Technologies by 13.7% in the fourth quarter. McAdam LLC now owns 6,815 shares of the company's stock valued at $515,000 after buying an additional 821 shares during the last quarter. WFA Asset Management Corp bought a new stake in Palantir Technologies in the 4th quarter valued at about $59,000. Greenleaf Trust boosted its stake in Palantir Technologies by 20.6% during the 4th quarter. Greenleaf Trust now owns 79,539 shares of the company's stock valued at $6,016,000 after purchasing an additional 13,567 shares during the period. Nadler Financial Group Inc. bought a new position in Palantir Technologies in the 4th quarter worth about $260,000. Finally, Golden State Equity Partners grew its position in Palantir Technologies by 1,455.6% in the 4th quarter. Golden State Equity Partners now owns 20,752 shares of the company's stock worth $1,569,000 after purchasing an additional 19,418 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

NASDAQ PLTR traded up $1.27 on Friday, hitting $82.49. 78,656,959 shares of the stock were exchanged, compared to its average volume of 62,463,712. The company's 50-day moving average price is $73.71 and its two-hundred day moving average price is $50.84. The company has a market capitalization of $187.91 billion, a price-to-earnings ratio of 412.47, a P/E/G ratio of 7.29 and a beta of 2.82. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $85.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued 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. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies's revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 earnings per share. Equities analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Baird R W upgraded Palantir Technologies to a "hold" rating in a research report on Thursday, December 12th. Mizuho boosted their price target on Palantir Technologies from $37.00 to $44.00 and gave the stock an "underperform" rating in a research report on Friday, December 13th. William Blair reissued an "underperform" rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Bank of America increased their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Finally, Northland Securities increased their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a "market perform" rating in a report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $44.61.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the company's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $66.59, for a total value of $1,997,700.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at $50,128,019.74. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,181,807 shares of company stock valued at $1,288,448,522 over the last three months. 12.93% of the stock is owned by corporate 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.