Castle Rock Wealth Management LLC Has $3.17 Million Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Castle Rock Wealth Management LLC lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 47.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,851 shares of the company's stock after selling 38,346 shares during the period. Palantir Technologies accounts for about 0.8% of Castle Rock Wealth Management LLC's investment portfolio, making the stock its 29th biggest holding. Castle Rock Wealth Management LLC's holdings in Palantir Technologies were worth $3,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the period. Northern Trust Corp lifted its stake in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. Norges Bank purchased a new position in shares of Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. FMR LLC raised its holdings in shares of Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PLTR. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Bank of America lifted their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Mizuho raised their target price on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 6th. Finally, Jefferies Financial Group boosted 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. Five 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.com, Palantir Technologies presently has an average rating of "Hold" and an average price target of $83.95.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 3,936 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $495,817.92. Following the transaction, the insider now owns 363,755 shares of the company's stock, valued at $45,822,217.35. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the company's stock in a transaction dated 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 approximately $15,993,370.71. The trade was a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,901,701 shares of company stock worth $370,407,533. 9.23% of the stock is owned by insiders.

Palantir Technologies Stock Performance

PLTR traded up $4.06 on Friday, reaching $126.38. 119,555,829 shares of the company's stock were exchanged, compared to its average volume of 100,908,906. Palantir Technologies Inc. has a twelve month low of $20.64 and a twelve month high of $133.49. The company's 50 day moving average is $105.30 and its 200-day moving average is $89.40. The company has a market cap of $298.24 billion, a price-to-earnings ratio of 666.45, a PEG ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its 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 during the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the previous year, the firm earned $0.08 EPS. The company's revenue was up 39.4% on a year-over-year basis. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 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.