Western Wealth Management LLC Has $501,000 Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Western Wealth Management LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 85.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,620 shares of the company's stock after selling 39,592 shares during the period. Western Wealth Management LLC's holdings in Palantir Technologies were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Mather Group LLC. lifted its stake in shares of Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock valued at $67,000 after acquiring an additional 448 shares during the period. Destiny Wealth Partners LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $3,233,000. Grange Capital LLC acquired a new position in Palantir Technologies in the fourth quarter valued at about $5,829,000. American Institute for Advanced Investment Management LLP bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $246,000. Finally, Sage Advisors LLC bought a new position in Palantir Technologies during the 4th quarter worth approximately $369,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Up 0.8%

PLTR stock opened at $123.31 on Friday. Palantir Technologies Inc. has a 1-year low of $20.64 and a 1-year high of $133.49. The business's 50 day simple moving average is $102.66 and its 200 day simple moving average is $87.59. The firm 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 (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (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 during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter last year, the company posted $0.08 EPS. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now owns 592 shares in the company, valued at $48,988. This trade represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,931,701 shares of company stock worth $373,180,433 over the last quarter. Company insiders own 9.23% of the company's stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research analyst reports. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, May 6th. Northland Securities lifted 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 note on Tuesday, February 4th. Mizuho increased their price objective on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 6th. Jefferies Financial Group boosted their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley boosted their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Five 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 MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus price target of $83.95.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.