Redwood Wealth Management Group LLC Decreases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Redwood Wealth Management Group LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 28.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,332 shares of the company’s stock after selling 8,369 shares during the quarter. Redwood Wealth Management Group LLC’s holdings in Palantir Technologies were worth $1,612,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC increased its holdings in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the period. First PREMIER Bank acquired a new position in Palantir Technologies in the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC increased its holdings in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $33,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $103.83 on Wednesday. The stock’s fifty day moving average is $74.09 and its two-hundred day moving average is $51.39. The firm has a market capitalization of $236.53 billion, a P/E ratio of 519.18, a PEG ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $16.48 and a fifty-two week high of $106.91.

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. The company had revenue of $725.52 million for the quarter, compared to analyst estimates 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 last year, the firm posted $0.03 EPS. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Northland Securities raised their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday. Royal Bank of Canada raised their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday. UBS Group raised their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday. Mizuho raised their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday. Finally, Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $64.89.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 1,823,602 shares of Palantir Technologies stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at $406,004,124.96. The trade was a 22.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of Palantir Technologies stock in a transaction on Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the transaction, the director now owns 121,390 shares in the company, valued at approximately $7,047,903.40. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,153,753 shares of company stock worth $1,287,042,675. Corporate 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.