LM Advisors LLC Reduces Position in Palantir Technologies Inc. (NASDAQ:PLTR)

LM Advisors LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 31.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,958 shares of the company's stock after selling 13,276 shares during the quarter. LM Advisors LLC's holdings in Palantir Technologies were worth $2,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PLTR. Tallon Kerry Patrick purchased a new stake in Palantir Technologies during the fourth quarter valued at about $289,000. Cornerstone Wealth Management LLC raised its holdings in shares of Palantir Technologies by 161.6% during the 4th quarter. Cornerstone Wealth Management LLC now owns 7,327 shares of the company's stock valued at $554,000 after buying an additional 19,227 shares in the last quarter. RFG Advisory LLC raised its holdings in shares of Palantir Technologies by 45.9% during the 4th quarter. RFG Advisory LLC now owns 10,365 shares of the company's stock valued at $784,000 after buying an additional 3,259 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Palantir Technologies by 1.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 14,406 shares of the company's stock worth $1,090,000 after acquiring an additional 196 shares in the last quarter. Finally, CFS Investment Advisory Services LLC purchased a new position in shares of Palantir Technologies during the fourth quarter worth approximately $394,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Palantir Technologies stock traded down $0.09 during mid-day trading on Thursday, reaching $123.67. 43,082,320 shares of the company traded hands, compared to its average volume of 77,926,372. The firm's 50 day moving average price is $104.78 and its 200 day moving average price is $88.97. The firm has a market capitalization of $290.04 billion, a price-to-earnings ratio of 651.00, a P/E/G ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 52-week low of $20.64 and a 52-week high of $133.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting 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 company earned $0.08 earnings per share. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. 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. William Blair set a $84.00 price objective on Palantir Technologies in a report on Wednesday, March 5th. Daiwa America upgraded Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. The Goldman Sachs Group raised their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Robert W. Baird lifted their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and an average price target of $83.95.

Insider Buying and Selling

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now owns 592 shares in the company, valued at $48,988. This represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the sale, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,901,701 shares of company stock worth $370,407,533 in the last 90 days. Insiders own 9.23% of the company's stock.

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.