Udine Wealth Management Inc. Decreases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Udine Wealth Management Inc. decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 47.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,931 shares of the company's stock after selling 36,706 shares during the quarter. Palantir Technologies accounts for about 2.0% of Udine Wealth Management Inc.'s portfolio, making the stock its 11th largest holding. Udine Wealth Management Inc.'s holdings in Palantir Technologies were worth $3,096,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Management Professionals Inc. raised its stake in shares of Palantir Technologies by 171.5% during the fourth quarter. Financial Management Professionals Inc. now owns 543 shares of the company's stock valued at $41,000 after acquiring an additional 343 shares during the last quarter. Hubbell Strickland Wealth Management LLC bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $230,000. KRS Capital Management LLC lifted its stake in Palantir Technologies by 16.6% in the fourth quarter. KRS Capital Management LLC now owns 8,978 shares of the company's stock valued at $679,000 after buying an additional 1,278 shares during the period. Trust Co. of Vermont grew its position in shares of Palantir Technologies by 506.6% during the 4th quarter. Trust Co. of Vermont now owns 1,377 shares of the company's stock worth $104,000 after buying an additional 1,150 shares during the period. Finally, Premier Path Wealth Partners LLC increased its stake in Palantir Technologies by 3.3% in the fourth quarter. Premier Path Wealth Partners LLC now owns 17,068 shares of the company's stock valued at $1,291,000 after purchasing an additional 538 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares of the company's stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the 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 transaction, the insider now directly owns 6,432,258 shares of the company's stock, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded up $2.53 during midday trading on Friday, hitting $71.77. The company had a trading volume of 54,590,923 shares, compared to its average volume of 79,745,712. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80. The company has a fifty day moving average of $70.49 and a two-hundred day moving average of $47.32. The company has a market cap of $163.49 billion, a price-to-earnings ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping 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 company had revenue of $725.52 million for the quarter, compared to analysts' expectations of $705.11 million. During the same quarter last year, the business earned $0.03 EPS. The firm's revenue was up 30.0% compared to the same quarter last year. Research analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Argus downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. UBS Group began coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They set a "neutral" rating and a $80.00 target price on the stock. Morgan Stanley restated an "underweight" rating and set a $60.00 price target on shares of Palantir Technologies in a research report on Monday, January 6th. DA Davidson increased their price objective on Palantir Technologies from $28.00 to $47.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Finally, Raymond James downgraded shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a report on Monday, September 23rd. Seven 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.com, Palantir Technologies currently has an average rating of "Hold" and a consensus 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.