InTrack Investment Management Inc Has $5.22 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

InTrack Investment Management Inc reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 13.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 69,029 shares of the company’s stock after selling 10,517 shares during the quarter. Palantir Technologies accounts for 3.6% of InTrack Investment Management Inc’s investment portfolio, making the stock its 4th biggest holding. InTrack Investment Management Inc’s holdings in Palantir Technologies were worth $5,221,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in Palantir Technologies during the third quarter worth $25,000. Prestige Wealth Management Group LLC lifted its stake in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the last quarter. Wolff Wiese Magana LLC boosted its holdings in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies in the 2nd quarter valued at about $30,000. Finally, Ashburton Jersey Ltd bought a new position in Palantir Technologies in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Bank of America upped their target price on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. UBS Group assumed coverage on Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective on the stock. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Robert W. Baird initiated coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price objective for the company. Seven equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $43.78.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $71.77 on Friday. The stock has a fifty day moving average of $70.49 and a 200-day moving average of $47.17. The stock has a market capitalization of $163.49 billion, a P/E ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80.

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

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 123,334 shares of the 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 completion of the transaction, the insider now directly owns 331,369 shares in the company, valued at approximately $14,911,605. This trade represents a 27.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 23,642,189 shares of company stock worth $1,444,232,453 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

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.