Udine Wealth Management Inc. Sells 36,706 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Udine Wealth Management Inc. trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 47.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 40,931 shares of the company’s stock after selling 36,706 shares during the quarter. Palantir Technologies makes up about 2.0% of Udine Wealth Management Inc.’s portfolio, making the stock its 11th biggest position. Udine Wealth Management Inc.’s holdings in Palantir Technologies were worth $3,096,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in 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 worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after acquiring an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the period. Finally, Marshall Wace LLP grew its holdings in Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after acquiring an additional 3,038,861 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 3.7 %

Shares of PLTR opened at $71.77 on Friday. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80. The stock has a market cap of $163.49 billion, a PE ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82. The firm’s fifty day moving average is $70.49 and its two-hundred day moving average is $47.17.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share 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 business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period last year, the company posted $0.03 EPS. The business’s revenue was up 30.0% on a year-over-year basis. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction 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 trade represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PLTR shares. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a research report on Monday, January 6th. Mizuho raised their price objective on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Finally, Wedbush upped their target price on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Seven equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.78.

Palantir Technologies Profile

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.