Udine Wealth Management Inc. Sells 36,706 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Udine Wealth Management Inc. lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 47.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,931 shares of the company’s stock after selling 36,706 shares during the quarter. Palantir Technologies makes up about 2.0% of Udine Wealth Management Inc.’s holdings, making the stock its 11th largest position. Udine Wealth Management Inc.’s holdings in Palantir Technologies were worth $3,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Wolff Wiese Magana LLC increased its stake in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the last quarter. Financial Management Professionals Inc. increased its position in shares of Palantir Technologies by 171.5% during the fourth quarter. Financial Management Professionals Inc. now owns 543 shares of the company’s stock valued at $41,000 after acquiring an additional 343 shares during the last quarter. Trivant Custom Portfolio Group LLC lifted its holdings in Palantir Technologies by 313.3% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 620 shares of the company’s stock worth $47,000 after acquiring an additional 470 shares during the period. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies in the third quarter worth $25,000. Finally, Prestige Wealth Management Group LLC grew its stake in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PLTR shares. Morgan Stanley reissued an “underweight” rating and set a $60.00 target price on shares of Palantir Technologies in a research report on Monday, January 6th. UBS Group initiated coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price for the company. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Cantor Fitzgerald assumed coverage on Palantir Technologies in a report on Friday. They issued a “neutral” rating and a $72.00 price objective for the company. Finally, Northland Securities increased their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.78.

Insider Activity at Palantir Technologies

In related news, 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 completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,642,189 shares of company stock worth $1,444,232,453 over the last ninety days. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $71.77 on Friday. Palantir Technologies Inc. has a one year low of $16.03 and a one year high of $84.80. The business’s 50 day simple moving average is $70.49 and its two-hundred day simple moving average is $47.17. The stock has a market capitalization of $163.49 billion, a P/E ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82.

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