Means Investment CO. Inc. Sells 698 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Means Investment CO. Inc. cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,942 shares of the company’s stock after selling 698 shares during the quarter. Palantir Technologies accounts for approximately 0.8% of Means Investment CO. Inc.’s investment portfolio, making the stock its 27th largest position. Means Investment CO. Inc.’s holdings in Palantir Technologies were worth $7,256,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PLTR. State Street Corp lifted its holdings in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after purchasing an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in shares of Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after acquiring an additional 2,984,348 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 1.6 %

Shares of Palantir Technologies stock opened at $82.49 on Monday. The firm has a market capitalization of $187.91 billion, a P/E ratio of 412.47, a PEG 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. The company has a 50 day moving average price of $73.71 and a 200 day moving average price of $50.84.

Palantir Technologies (NASDAQ:PLTR) last announced 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 firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the company earned $0.03 earnings per share. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a research note on Monday, January 6th. Finally, Wedbush increased their price objective on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $44.61.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the transaction, the director now owns 130,250 shares of the company’s stock, valued at $6,576,322.50. The trade was a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522. Company insiders own 12.93% of the company’s stock.

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.