Montchanin Asset Management LLC Lowers Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Montchanin Asset Management LLC lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 25.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,800 shares of the company's stock after selling 5,400 shares during the period. Palantir Technologies accounts for 1.2% of Montchanin Asset Management LLC's investment portfolio, making the stock its 18th largest position. Montchanin Asset Management LLC's holdings in Palantir Technologies were worth $1,195,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PLTR. Norges Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $1,360,191,000. Geode Capital Management LLC raised its stake in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Wellington Management Group LLP lifted its holdings in Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after purchasing an additional 3,907,022 shares in the last quarter. Invesco Ltd. boosted its stake in Palantir Technologies by 31.2% in the 4th 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 during the period. Finally, Capital World Investors purchased a new position in Palantir Technologies during the 4th quarter valued at about $253,816,000. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Up 0.8%

Shares of PLTR stock traded up $1.02 during trading hours on Monday, hitting $123.31. 65,753,315 shares of the company's stock were exchanged, compared to its average volume of 77,871,799. The company has a market capitalization of $289.21 billion, a PE ratio of 649.03, a PEG ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 12-month low of $20.64 and a 12-month high of $133.49. The business's 50 day simple moving average is $102.66 and its 200-day simple moving average is $88.04.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates 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 last year, the company earned $0.08 EPS. The firm's revenue was up 39.4% compared to the same quarter last year. Equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 39,825 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $5,016,755.25. Following the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $810,271,540.26. This represents a 0.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,901,701 shares of company stock valued at $370,407,533. Insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PLTR shares. Jefferies Financial Group increased their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Loop Capital upped their target price on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. DA Davidson raised their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. UBS Group boosted their price target on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Bank of America upped their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Company 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.