Archford Capital Strategies LLC Lowers Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Archford Capital Strategies LLC lowered its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 33.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 24,821 shares of the company’s stock after selling 12,315 shares during the period. Archford Capital Strategies LLC’s holdings in Palantir Technologies were worth $1,877,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $876,000. State of Alaska Department of Revenue increased its holdings in shares of Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the last quarter. Finally, Tyler Stone Wealth Management increased its holdings in shares of Palantir Technologies by 97.9% in the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after purchasing an additional 99,921 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $78.98 on Friday. The firm has a market cap of $179.92 billion, a PE ratio of 394.92, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82. The stock has a fifty day moving average price of $71.96 and a 200 day moving average price of $48.89. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period last year, the firm earned $0.03 earnings per share. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. Equities analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now owns 592 shares in the company, valued at $42,002.40. This trade represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,518,855 shares of company stock worth $1,438,682,423 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the subject of several recent research reports. Bank of America increased their price target on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Morgan Stanley reaffirmed an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. Mizuho increased their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. UBS Group initiated coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective for the company. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $44.61.

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.