United Advisor Group LLC Cuts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

United Advisor Group LLC reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,025 shares of the company's stock after selling 3,183 shares during the period. Palantir Technologies comprises 1.5% of United Advisor Group LLC's investment portfolio, making the stock its 12th largest holding. United Advisor Group LLC's holdings in Palantir Technologies were worth $7,414,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Geode Capital Management LLC grew its holdings in Palantir Technologies by 8.6% during 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. Wellington Management Group LLP grew 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 acquiring an additional 3,907,022 shares in the last quarter. Invesco Ltd. grew its holdings in Palantir Technologies by 31.2% during 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. Finally, Capital World Investors acquired a new position in Palantir Technologies during the 4th quarter worth approximately $253,816,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Northland Securities boosted their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. Bank of America boosted 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. Loop Capital boosted their price target 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. Robert W. Baird boosted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Finally, William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Stock Up 0.1%

NASDAQ:PLTR traded up $0.08 during trading hours on Tuesday, reaching $123.39. 86,177,009 shares of the company's stock were exchanged, compared to its average volume of 77,906,130. The firm has a market capitalization of $289.39 billion, a price-to-earnings ratio of 649.46, a P/E/G ratio of 10.84 and a beta of 2.68. The company has a 50-day moving average of $103.41 and a 200 day moving average of $88.49. Palantir Technologies Inc. has a 1-year low of $20.64 and a 1-year high of $133.49.

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

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company'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 of the company's stock, valued at approximately $48,988. The trade was a 99.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,901,701 shares of company stock worth $370,407,533 in the last 90 days. Company 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.