abrdn plc Has $40.37 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

abrdn plc reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 521,479 shares of the company’s stock after selling 89,663 shares during the period. abrdn plc’s holdings in Palantir Technologies were worth $40,368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Tritonpoint Wealth LLC boosted its position in shares of Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after buying an additional 132 shares during the period. Kennebec Savings Bank boosted its position in shares of Palantir Technologies by 29.5% during the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after buying an additional 159 shares during the period. RMR Wealth Builders boosted its position in shares of Palantir Technologies by 2.4% during the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after buying an additional 167 shares during the period. Bay Rivers Group boosted its position in shares of Palantir Technologies by 2.7% during the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after buying an additional 171 shares during the period. Finally, Christensen King & Associates Investment Services Inc. boosted its position in shares of Palantir Technologies by 3.0% during the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after buying an additional 174 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PLTR. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wedbush upped their target price on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. UBS Group upped their target price on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Northland Securities upped their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $69.44.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alexander C. Karp sold 1,823,602 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total value of $115,105,758.24. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $406,004,124.96. This represents a 22.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,653,753 shares of company stock valued at $1,039,407,675 over the last 90 days. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Trading Down 2.4 %

Palantir Technologies stock opened at $101.36 on Thursday. Palantir Technologies Inc. has a 12 month low of $19.76 and a 12 month high of $106.91. The stock’s 50 day moving average is $74.85 and its 200-day moving average is $51.92. The company has a market capitalization of $230.90 billion, a price-to-earnings ratio of 506.83, a PEG ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $705.11 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share 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.