Frontier Capital Management Co. LLC Sells 441,228 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Frontier Capital Management Co. LLC decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 18.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,937,828 shares of the company's stock after selling 441,228 shares during the quarter. Palantir Technologies makes up 1.4% of Frontier Capital Management Co. LLC's portfolio, making the stock its 6th biggest position. Frontier Capital Management Co. LLC owned 0.09% of Palantir Technologies worth $146,558,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Roxbury Financial LLC acquired a new position in Palantir Technologies in the fourth quarter worth $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC lifted its holdings in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after acquiring an additional 265 shares during the last quarter. HighMark Wealth Management LLC lifted its holdings in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after acquiring an additional 166 shares during the last quarter. Finally, Sierra Ocean LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's 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 directly owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the transaction, the director now directly owns 184,617 shares in the company, valued at approximately $15,993,370.71. This represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,978,181 shares of company stock worth $252,115,667. 9.23% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

NASDAQ:PLTR traded down $1.79 during mid-day trading on Friday, reaching $117.36. The stock had a trading volume of 80,786,187 shares, compared to its average volume of 75,877,287. The stock has a market cap of $275.25 billion, a P/E ratio of 617.72, a PEG ratio of 10.84 and a beta of 2.68. The business's 50 day moving average is $94.23 and its 200 day moving average is $81.99. Palantir Technologies Inc. has a fifty-two week low of $20.50 and a fifty-two week high of $125.41.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The business had revenue of $883.86 million during the quarter, compared to analyst estimates 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 previous year, the business earned $0.08 EPS. Equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLTR. Royal Bank of Canada restated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday. Loop Capital lifted their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday. Citigroup upped their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday. Morgan Stanley lifted 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. Finally, Wedbush set a $140.00 target price on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target 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.