LM Advisors LLC Sells 13,276 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

LM Advisors LLC lowered its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 31.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in 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 acquiring an additional 4,127,306 shares in the last quarter. Northern Trust Corp increased its holdings 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 acquiring an additional 3,299,779 shares in the last quarter. Norges Bank purchased a new stake in Palantir Technologies in the 4th quarter worth approximately $1,360,191,000. FMR LLC increased its holdings in Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after acquiring an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. increased its holdings 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 acquiring an additional 3,509,311 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alexander C. Karp sold 39,825 shares of the firm's stock in a transaction 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 in the company, 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. Insiders have sold a total of 3,901,701 shares of company stock worth $370,407,533 over the last quarter. Company insiders own 9.23% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PLTR. Wedbush set a $140.00 price target on Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Mizuho upped their price target on Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 6th. Citigroup upped their price target on Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Jefferies Financial Group upped their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research note 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $83.95.

Palantir Technologies Trading Up 0.1%

NASDAQ:PLTR traded up $0.08 during midday trading on Tuesday, hitting $123.39. 86,177,009 shares of the company traded hands, compared to its average volume of 77,906,130. The firm's fifty day moving average is $103.41 and its 200-day moving average is $88.49. 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 $289.39 billion, a P/E ratio of 649.46, a P/E/G 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 analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter last year, the firm posted $0.08 earnings per share. The business's revenue was up 39.4% compared to the same quarter last year. On average, research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal 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.