Cim LLC Cuts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Cim LLC lessened its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 16.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,972 shares of the company's stock after selling 6,340 shares during the period. Cim LLC's holdings in Palantir Technologies were worth $2,418,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Roxbury Financial LLC purchased a new position in Palantir Technologies in the 4th quarter worth about $27,000. HighMark Wealth Management LLC raised its position in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after buying an additional 166 shares during the last quarter. Sierra Ocean LLC purchased a new position in Palantir Technologies in the 4th quarter worth about $31,000. R Squared Ltd purchased a new position in Palantir Technologies in the 4th quarter worth about $33,000. Finally, First Command Advisory Services Inc. purchased a new position in Palantir Technologies in the 4th quarter worth about $34,000. Institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. DA Davidson boosted their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Robert W. Baird upped their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Northland Securities upped their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $83.95.

Palantir Technologies Stock Down 1.2%

PLTR stock traded down $1.44 during midday trading on Thursday, hitting $122.32. The company's stock had a trading volume of 62,777,156 shares, compared to its average volume of 77,999,719. Palantir Technologies Inc. has a 12 month low of $20.64 and a 12 month high of $133.49. The firm has a market capitalization of $286.88 billion, a price-to-earnings ratio of 643.82, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The company has a 50 day moving average of $104.78 and a two-hundred day moving average of $88.97.

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

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the sale, the insider now owns 6,432,258 shares in the company, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,901,701 shares of company stock valued at $370,407,533 in the last ninety days. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Profile

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.