Dakota Wealth Management Sells 4,012 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Dakota Wealth Management cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,907 shares of the company’s stock after selling 4,012 shares during the period. Dakota Wealth Management’s holdings in Palantir Technologies were worth $4,833,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wolff Wiese Magana LLC grew its holdings in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in Palantir Technologies by 171.5% during the 4th quarter. Financial Management Professionals Inc. now owns 543 shares of the company’s stock worth $41,000 after acquiring an additional 343 shares during the last quarter. Trivant Custom Portfolio Group LLC grew its holdings in Palantir Technologies by 313.3% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 620 shares of the company’s stock worth $47,000 after acquiring an additional 470 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies in the 3rd quarter valued at about $25,000. Finally, Prestige Wealth Management Group LLC raised its stake in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of PLTR opened at $76.87 on Thursday. The firm has a market capitalization of $175.11 billion, a PE ratio of 384.37, a P/E/G ratio of 6.73 and a beta of 2.82. The stock has a 50 day simple moving average of $70.98 and a 200 day simple moving average of $48.12. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The company 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 firm’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Equities research analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Insider Activity

In other news, 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 value of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. The trade was a 34.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock worth $1,444,232,453 over the last three months. Corporate insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wedbush raised their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird started coverage on Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley restated an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a research 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.