Factory Mutual Insurance Co. Has $16.55 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Factory Mutual Insurance Co. reduced its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 18.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 218,857 shares of the company’s stock after selling 50,000 shares during the period. Factory Mutual Insurance Co.’s holdings in Palantir Technologies were worth $16,552,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kennebec Savings Bank increased its stake in Palantir Technologies by 29.5% in the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after buying an additional 159 shares during the last quarter. RMR Wealth Builders increased its stake in Palantir Technologies by 2.4% in the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after buying an additional 167 shares during the last quarter. Bay Rivers Group increased its stake in shares of Palantir Technologies by 2.7% during the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after purchasing an additional 171 shares during the last quarter. Christensen King & Associates Investment Services Inc. increased its stake in shares of Palantir Technologies by 3.0% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after purchasing an additional 174 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of Palantir Technologies by 1.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 14,406 shares of the company’s stock worth $1,090,000 after purchasing an additional 196 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on PLTR. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America boosted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Wedbush boosted their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Finally, Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned 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.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 directly owns 130,250 shares in the company, valued at approximately $6,576,322.50. The trade was a 5.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the transaction, the insider now owns 562,006 shares of the company’s stock, valued at approximately $28,077,819.76. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,181,807 shares of company stock worth $1,288,448,522. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Up 1.6 %

NASDAQ PLTR opened at $82.49 on Friday. The company has a market capitalization of $187.91 billion, a P/E ratio of 412.47, a P/E/G ratio of 7.29 and a beta of 2.82. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $85.22. The firm has a 50-day moving average price of $73.34 and a two-hundred day moving average price of $50.31.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data 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. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. Equities analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

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.