Palantir Technologies Inc. (NASDAQ:PLTR) Position Reduced by Novare Capital Management LLC

Novare Capital Management LLC trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 18.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,250 shares of the company’s stock after selling 2,310 shares during the quarter. Novare Capital Management LLC’s holdings in Palantir Technologies were worth $775,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PLTR. First PREMIER Bank purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $28,000. Wolff Wiese Magana LLC raised its stake in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Financial Management Professionals Inc. lifted its holdings in shares of Palantir Technologies by 171.5% in the fourth quarter. Financial Management Professionals Inc. now owns 543 shares of the company’s stock valued at $41,000 after purchasing an additional 343 shares in the last quarter. Trivant Custom Portfolio Group LLC boosted its position in shares of Palantir Technologies by 313.3% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 620 shares of the company’s stock worth $47,000 after buying an additional 470 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies during the third quarter valued at $25,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 34.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,518,855 shares of company stock worth $1,438,682,423. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $78.98 on Friday. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80. The stock has a 50 day moving average price of $71.96 and a two-hundred day moving average price of $49.04. The stock has a market capitalization of $179.92 billion, a P/E ratio of 394.92, a PEG ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on PLTR. Robert W. Baird initiated coverage on Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of Palantir Technologies in a research report on Friday, January 17th. They issued a “neutral” rating and a $72.00 price target for the company. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. DA Davidson upped their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Wedbush lifted their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus target price of $44.61.

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.