Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Brooklyn Investment Group

Brooklyn Investment Group trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,570 shares of the company’s stock after selling 179 shares during the quarter. Brooklyn Investment Group’s holdings in Palantir Technologies were worth $573,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Sax Wealth Advisors LLC acquired a new position in shares of Palantir Technologies during the 4th quarter valued at about $247,000. Merit Financial Group LLC increased its position in Palantir Technologies by 33.6% during the fourth quarter. Merit Financial Group LLC now owns 152,061 shares of the company’s stock worth $11,500,000 after purchasing an additional 38,260 shares during the last quarter. Kaye Capital Management purchased a new position in Palantir Technologies during the fourth quarter worth approximately $227,000. Wedge Capital Management L L P NC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth $302,000. Finally, Relyea Zuckerberg Hanson LLC acquired a new position in Palantir Technologies in the fourth quarter valued at $375,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $42,002.40. This represents a 99.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This trade represents a 87.46 % 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. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PLTR. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Robert W. Baird began coverage on Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price on the stock. Mizuho lifted their price objective on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Finally, William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $43.78.

Palantir Technologies Stock Up 3.7 %

Shares of NASDAQ PLTR opened at $71.77 on Friday. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The company has a market cap of $163.49 billion, a price-to-earnings ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82. The business has a fifty day simple moving average of $70.49 and a 200-day simple moving average of $47.17.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for 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 company’s revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 EPS. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal 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.