Princeton Global Asset Management LLC Trims Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Princeton Global Asset Management LLC lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 47.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,940 shares of the company's stock after selling 8,810 shares during the quarter. Princeton Global Asset Management LLC's holdings in Palantir Technologies were worth $752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Chicago Capital LLC raised its stake in Palantir Technologies by 1.4% during the 4th quarter. Chicago Capital LLC now owns 145,155 shares of the company's stock worth $10,978,000 after acquiring an additional 1,953 shares during the period. FSM Wealth Advisors LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at $263,000. HHM Wealth Advisors LLC lifted its stake in shares of Palantir Technologies by 10.5% during the 4th quarter. HHM Wealth Advisors LLC now owns 5,163 shares of the company's stock valued at $390,000 after buying an additional 492 shares in the last quarter. Burford Brothers Inc. purchased a new stake in Palantir Technologies in the 4th quarter worth $351,000. Finally, Stock Yards Bank & Trust Co. purchased a new position in shares of Palantir Technologies in the fourth quarter valued at about $289,000. Institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Jefferies Financial Group downgraded Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 target price on the stock. in a research note on Thursday, November 7th. Mizuho boosted their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an "underperform" rating in a report on Friday, December 13th. DA Davidson lifted their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. The Goldman Sachs Group raised their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Finally, Baird R W upgraded Palantir Technologies to a "hold" rating in a research report on Thursday, December 12th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $44.61.

Palantir Technologies Stock Up 1.6 %

Shares of NASDAQ:PLTR opened at $82.49 on Monday. The business's 50 day moving average is $73.71 and its 200 day moving average is $51.00. The stock has a market cap of $187.91 billion, a P/E ratio of 412.47, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. 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 announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating 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 firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the firm posted $0.03 earnings per share. The business's revenue for the quarter was up 30.0% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total value of $999,200.00. Following the completion of the sale, the insider now owns 562,006 shares of the company's stock, valued at approximately $28,077,819.76. This trade represents a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total transaction of $406,646.46. Following the sale, the director now directly owns 130,250 shares in the company, valued at approximately $6,576,322.50. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,181,807 shares of company stock valued at $1,288,448,522 over the last ninety days. 12.93% of the stock is owned by company insiders.

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.

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