Arkadios Wealth Advisors Decreases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Arkadios Wealth Advisors lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,447 shares of the company’s stock after selling 5,943 shares during the quarter. Arkadios Wealth Advisors’ holdings in Palantir Technologies were worth $9,790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PLTR. State Street Corp lifted its position in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC lifted its position in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC lifted its position in Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after buying an additional 6,641,253 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Palantir Technologies by 594.3% during the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after buying an additional 3,038,861 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PLTR. Cantor Fitzgerald began coverage on Palantir Technologies in a research report on Friday. They set a “neutral” rating and a $72.00 price objective on the stock. Wedbush lifted their price objective on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Morgan Stanley restated an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a research report on Monday, January 6th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, Mizuho lifted their target price on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $43.78.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares of the company’s stock, valued at $7,748,867.94. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 123,334 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $5,550,030.00. Following the transaction, the insider now directly owns 331,369 shares of the company’s stock, valued at approximately $14,911,605. This represents a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,642,189 shares of company stock valued at $1,444,232,453 in the last three months. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Trading Up 3.7 %

Shares of NASDAQ PLTR opened at $71.77 on Friday. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The stock has a fifty day simple moving average of $70.49 and a 200-day simple moving average of $47.17. The stock has a market capitalization of $163.49 billion, a PE ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82.

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

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.