Highland Capital Management LLC Lowers Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Highland Capital Management LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 48.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,616 shares of the company’s stock after selling 17,376 shares during the period. Highland Capital Management LLC’s holdings in Palantir Technologies were worth $1,408,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PLTR. Thrivent Financial for Lutherans lifted its holdings in shares of Palantir Technologies by 20.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock worth $1,336,000 after acquiring an additional 9,109 shares during the last quarter. ProShare Advisors LLC lifted its stake in Palantir Technologies by 14.9% in the second quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock worth $332,000 after purchasing an additional 1,702 shares during the last quarter. EP Wealth Advisors LLC boosted its position in Palantir Technologies by 20.3% during the second quarter. EP Wealth Advisors LLC now owns 17,132 shares of the company’s stock valued at $434,000 after buying an additional 2,896 shares during the period. Truist Financial Corp grew its stake in shares of Palantir Technologies by 21.5% during the second quarter. Truist Financial Corp now owns 449,356 shares of the company’s stock valued at $11,382,000 after buying an additional 79,618 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Palantir Technologies by 25.2% in the second quarter. Cetera Investment Advisers now owns 707,674 shares of the company’s stock worth $17,925,000 after buying an additional 142,411 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

PLTR stock opened at $81.22 on Friday. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80. The stock has a market capitalization of $185.02 billion, a P/E ratio of 406.12, a P/E/G ratio of 7.29 and a beta of 2.82. The business has a fifty day moving average price of $72.94 and a 200-day moving average price of $50.10.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data 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 company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

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 stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $42,002.40. This represents a 99.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,181,807 shares of company stock worth $1,288,448,522 in the last ninety days. Insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PLTR. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. UBS Group began coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price on the stock. Wedbush increased their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Cantor Fitzgerald initiated coverage on shares of Palantir Technologies in a research report on Friday, January 17th. They issued a “neutral” rating and a $72.00 price objective on the stock. Finally, Morgan Stanley reiterated an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $44.61.

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.