Princeton Global Asset Management LLC Lowers Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Princeton Global Asset Management LLC lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 47.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 9,940 shares of the company’s stock after selling 8,810 shares during the period. Princeton Global Asset Management LLC’s holdings in Palantir Technologies were worth $752,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the period. Diversify Wealth Management LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at $876,000. Destiny Wealth Partners LLC purchased a new stake in Palantir Technologies in the 4th quarter worth $3,233,000. State of Alaska Department of Revenue raised its position in Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after acquiring an additional 68,945 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its holdings in Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research report on Thursday, November 7th. Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Bank of America boosted their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $60.00 price objective on shares of Palantir Technologies in a report on Monday, January 6th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $44.61.

Palantir Technologies Stock Up 1.6 %

Shares of PLTR opened at $82.49 on Monday. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $85.22. The company has a market cap of $187.91 billion, a P/E ratio of 412.47, a PEG ratio of 7.54 and a beta of 2.81. The firm’s 50 day moving average price is $73.71 and its 200 day moving average price is $51.00.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $705.11 million. During the same period last year, the business posted $0.03 earnings per share. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. Research analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity

In other news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total value of $247,635,000.00. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. This represents a 41.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $406,646.46. Following the sale, the director now owns 130,250 shares of the company’s stock, valued at approximately $6,576,322.50. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,181,807 shares of company stock worth $1,288,448,522. 12.93% of the stock is currently 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.