Dock Street Asset Management Inc. Reduces Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Dock Street Asset Management Inc. reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 988,757 shares of the company’s stock after selling 10,196 shares during the period. Palantir Technologies comprises about 9.0% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 3rd largest holding. Dock Street Asset Management Inc.’s holdings in Palantir Technologies were worth $74,780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PLTR. State Street Corp boosted its holdings in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after acquiring an additional 808,444 shares in the last quarter. FMR LLC increased its position in shares of Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after acquiring an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position 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. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PLTR. Citigroup upped their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Wedbush increased their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Robert W. Baird increased their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Royal Bank of Canada boosted their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $69.44.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.10, for a total value of $283,950,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $405,875,479.80. The trade was a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the transaction, the director now owns 88,129 shares in the company, valued at $9,059,661.20. This represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,656,687 shares of company stock worth $1,040,105,687 in the last quarter. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $111.28 on Friday. The company has a market capitalization of $253.50 billion, a P/E ratio of 556.43, a P/E/G ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $111.55. The company has a fifty day moving average of $76.46 and a 200-day moving average of $52.67.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 EPS. As a group, analysts forecast that Palantir Technologies Inc. will post 0.19 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.