Westside Investment Management Inc. Decreases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Westside Investment Management Inc. lessened its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 33.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 803 shares of the company’s stock after selling 397 shares during the quarter. Westside Investment Management Inc.’s holdings in Palantir Technologies were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Magnus Financial Group LLC boosted its position in Palantir Technologies by 3.4% in the fourth quarter. Magnus Financial Group LLC now owns 27,981 shares of the company’s stock worth $2,116,000 after purchasing an additional 915 shares during the last quarter. Daymark Wealth Partners LLC boosted its holdings in shares of Palantir Technologies by 38.1% in the 4th quarter. Daymark Wealth Partners LLC now owns 9,680 shares of the company’s stock worth $732,000 after buying an additional 2,670 shares during the last quarter. Global Trust Asset Management LLC grew its position in Palantir Technologies by 8.6% during the fourth quarter. Global Trust Asset Management LLC now owns 46,526 shares of the company’s stock valued at $3,519,000 after buying an additional 3,680 shares during the period. Advisory Alpha LLC purchased a new stake in Palantir Technologies during the fourth quarter worth about $362,000. Finally, XML Financial LLC raised its position in Palantir Technologies by 7.6% in the fourth quarter. XML Financial LLC now owns 7,097 shares of the company’s stock worth $537,000 after acquiring an additional 500 shares during the period. 45.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group started coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target for the company. Robert W. Baird assumed coverage on Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research report on Monday, January 6th. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $43.78.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $52,755,242.88. This trade represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $76.87 on Thursday. Palantir Technologies Inc. has a one year low of $16.03 and a one year high of $84.80. The firm has a market capitalization of $175.11 billion, a price-to-earnings ratio of 384.37, a PEG ratio of 6.73 and a beta of 2.82. The company’s fifty day moving average price is $70.98 and its 200-day moving average price is $48.12.

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, equities research analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current year.

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.