Atlas Private Wealth Advisors Sells 3,546 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Atlas Private Wealth Advisors lowered its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,030 shares of the company’s stock after selling 3,546 shares during the quarter. Palantir Technologies accounts for about 0.6% of Atlas Private Wealth Advisors’ portfolio, making the stock its 29th biggest position. Atlas Private Wealth Advisors’ holdings in Palantir Technologies were worth $4,238,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PLTR. Dimensional Fund Advisors LP boosted its holdings in shares of Palantir Technologies by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock valued at $72,963,000 after buying an additional 278,544 shares during the period. XTX Topco Ltd acquired a new position in Palantir Technologies in the 2nd quarter worth $330,000. Thrivent Financial for Lutherans boosted its stake in 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 purchasing an additional 9,109 shares during the period. ProShare Advisors LLC increased its holdings in Palantir Technologies by 14.9% during the 2nd quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock worth $332,000 after purchasing an additional 1,702 shares in the last quarter. Finally, Fred Alger Management LLC lifted its holdings in shares of Palantir Technologies by 95.6% in the second quarter. Fred Alger Management LLC now owns 120,153 shares of the company’s stock valued at $3,043,000 after purchasing an additional 58,724 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America increased their price objective on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. DA Davidson lifted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird started coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target on the stock. Finally, Morgan Stanley restated 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 given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.61.

Palantir Technologies Stock Performance

Shares of PLTR opened at $78.98 on Friday. The firm has a market cap of $179.92 billion, a P/E ratio of 394.92, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80. The firm’s 50-day simple moving average is $71.70 and its 200 day simple moving average is $48.53.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 5,250,000 shares of the firm’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 transaction of $367,920,000.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,518,855 shares of company stock valued at $1,438,682,423. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Company 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.