Polar Capital Holdings Plc Sells 118,171 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Polar Capital Holdings Plc cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 33.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 238,262 shares of the company’s stock after selling 118,171 shares during the quarter. Polar Capital Holdings Plc’s holdings in Palantir Technologies were worth $18,020,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. ProShare Advisors LLC grew its stake in shares of Palantir Technologies by 682.6% in the fourth quarter. ProShare Advisors LLC now owns 2,906,008 shares of the company’s stock worth $219,781,000 after acquiring an additional 2,534,660 shares during the period. Quantinno Capital Management LP increased its holdings in Palantir Technologies by 56.3% during the fourth quarter. Quantinno Capital Management LP now owns 180,803 shares of the company’s stock valued at $13,674,000 after buying an additional 65,105 shares during the last quarter. Pathstone Holdings LLC increased its holdings in Palantir Technologies by 7.5% during the fourth quarter. Pathstone Holdings LLC now owns 116,853 shares of the company’s stock valued at $8,838,000 after buying an additional 8,146 shares during the last quarter. Mufg Securities Americas Inc. purchased a new position in shares of Palantir Technologies during the 4th quarter worth $2,288,000. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in shares of Palantir Technologies by 90.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 470,929 shares of the company’s stock worth $37,241,000 after acquiring an additional 224,200 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

PLTR stock opened at $128.12 on Friday. The company’s fifty day moving average price is $97.69 and its 200-day moving average price is $84.26. Palantir Technologies Inc. has a one year low of $20.63 and a one year high of $133.49. The company has a market capitalization of $300.49 billion, a PE ratio of 674.35, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter in the previous year, the business posted $0.08 earnings per share. Palantir Technologies’s quarterly revenue was up 39.4% on a year-over-year basis. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Alexandra W. Schiff sold 6,776 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the transaction, the director now owns 184,617 shares in the company, valued at $15,993,370.71. The trade was a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,964,290 shares of company stock worth $250,504,866. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Loop Capital lifted their price target on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price target on the stock. Finally, Northland Securities lifted their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average price target of $83.95.

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.