Foster Group Inc. Decreases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Foster Group Inc. trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,040 shares of the company’s stock after selling 7,825 shares during the period. Foster Group Inc.’s holdings in Palantir Technologies were worth $4,919,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PLTR. Thrivent Financial for Lutherans boosted its position in Palantir Technologies by 20.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock worth $1,336,000 after purchasing an additional 9,109 shares during the period. ProShare Advisors LLC lifted its holdings in Palantir Technologies by 14.9% in the 2nd quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock worth $332,000 after buying an additional 1,702 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new position in Palantir Technologies in the 2nd quarter worth $381,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Palantir Technologies by 23.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 784,823 shares of the company’s stock worth $19,880,000 after buying an additional 146,652 shares in the last quarter. Finally, Quarry LP lifted its holdings in Palantir Technologies by 193.1% in the 2nd quarter. Quarry LP now owns 4,200 shares of the company’s stock worth $106,000 after buying an additional 2,767 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

PLTR stock opened at $80.23 on Wednesday. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The firm has a market cap of $182.77 billion, a PE ratio of 401.17, a P/E/G ratio of 7.08 and a beta of 2.82. The firm has a 50 day simple moving average of $72.59 and a 200 day simple moving average of $49.89.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction on 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 directly owns 592 shares in the company, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,181,807 shares of company stock worth $1,288,448,522 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on PLTR shares. Bank of America boosted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Northland Securities upped their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Finally, Mizuho upped their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.