Occudo Quantitative Strategies LP Reduces Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Occudo Quantitative Strategies LP lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 76.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,808 shares of the company’s stock after selling 28,951 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in Palantir Technologies were worth $666,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies during the fourth quarter valued at $27,000. First PREMIER Bank bought a new stake in Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC raised its position in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. HighMark Wealth Management LLC raised its position in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new position in Palantir Technologies in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek purchased 10,000 shares of the business’s stock in a transaction on Thursday, May 8th. The stock was purchased at an average price of $116.14 per share, with a total value of $1,161,400.00. Following the acquisition, the insider now directly owns 58,006 shares in the company, valued at approximately $6,736,816.84. The trade was a 20.83% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares of the company’s stock, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,964,290 shares of company stock valued at $250,504,866 in the last quarter. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 1.6%

Shares of NASDAQ:PLTR opened at $130.18 on Thursday. The business has a 50 day moving average price of $96.65 and a 200 day moving average price of $83.69. The company has a market cap of $305.32 billion, a price-to-earnings ratio of 685.19, a PEG ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a twelve month low of $20.63 and a twelve month high of $133.49.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 EPS. Analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Daiwa America raised Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Citigroup boosted their price target on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Robert W. Baird lifted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group boosted their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $83.95.

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.