Occudo Quantitative Strategies LP Decreases Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Occudo Quantitative Strategies LP lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 76.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,808 shares of the company's stock after selling 28,951 shares during the period. Occudo Quantitative Strategies LP's holdings in Palantir Technologies were worth $666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLTR. McGowan Group Asset Management Inc. boosted its position in Palantir Technologies by 131.2% during the 4th quarter. McGowan Group Asset Management Inc. now owns 14,933 shares of the company's stock worth $1,129,000 after buying an additional 8,474 shares during the period. Measured Risk Portfolios Inc. acquired a new position in shares of Palantir Technologies during the fourth quarter worth $64,000. Napa Wealth Management bought a new position in Palantir Technologies during the 4th quarter worth $302,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Palantir Technologies by 102.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,382,639 shares of the company's stock worth $180,207,000 after acquiring an additional 1,205,597 shares during the last quarter. Finally, MJP Associates Inc. ADV bought a new stake in Palantir Technologies in the fourth quarter valued at approximately $358,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.43, for a total value of $2,772,900.00. Following the transaction, the insider now owns 702,786 shares of the company's stock, valued at $64,958,509.98. This represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather A. Planishek bought 10,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $116.14 per share, with a total value of $1,161,400.00. Following the completion of the transaction, the insider now owns 58,006 shares in the company, valued at $6,736,816.84. This represents a 20.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 2,964,290 shares of company stock worth $250,504,866 in the last quarter. 9.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

PLTR has been the subject of several recent analyst reports. 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. Daiwa America upgraded Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Jefferies Financial Group boosted their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. The Goldman Sachs Group raised their target price on Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Bank of America raised their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Palantir Technologies currently has an average rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Trading Down 2.6%

Shares of NASDAQ:PLTR traded down $3.38 during trading on Monday, reaching $126.14. The company's stock had a trading volume of 34,935,626 shares, compared to its average volume of 76,887,129. The stock has a market capitalization of $295.84 billion, a PE ratio of 660.14, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a 12 month low of $20.63 and a 12 month high of $133.49. The firm's 50 day simple moving average is $98.72 and its two-hundred day simple moving average is $85.43.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million for 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%. The business's revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 earnings per share. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

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.