CarsonAllaria Wealth Management Ltd. Cuts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

CarsonAllaria Wealth Management Ltd. cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 16.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 970 shares of the company’s stock after selling 196 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in Palantir Technologies were worth $73,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PLTR. Northwest Investment Counselors LLC bought a new position in Palantir Technologies during the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC boosted its holdings in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the period. First PREMIER Bank bought a new stake in Palantir Technologies during the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC grew its stake in Palantir Technologies by 230.4% in the 4th 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. Finally, R Squared Ltd bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $33,000. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total value of $247,635,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. This trade represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,153,753 shares of company stock valued at $1,287,042,675. 12.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of recent research reports. UBS Group increased their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday. Northland Securities increased their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, Cantor Fitzgerald lifted their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $64.89.

Palantir Technologies Price Performance

PLTR opened at $103.83 on Wednesday. The stock has a market cap of $236.53 billion, a P/E ratio of 519.18, a P/E/G ratio of 7.54 and a beta of 2.81. The firm has a fifty day moving average price of $74.09 and a 200 day moving average price of $51.39. Palantir Technologies Inc. has a 1 year low of $16.48 and a 1 year high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results 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. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the company posted $0.03 EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. Equities analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

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.