Clarus Wealth Advisors Sells 5,973 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Clarus Wealth Advisors trimmed its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 25.8% in the fourth quarter, Holdings Channel reports. The fund owned 17,174 shares of the company’s stock after selling 5,973 shares during the quarter. Clarus Wealth Advisors’ holdings in Palantir Technologies were worth $1,299,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Federated Hermes Inc. grew its holdings in Palantir Technologies by 0.3% during the 2nd quarter. Federated Hermes Inc. now owns 431,667 shares of the company’s stock worth $10,934,000 after acquiring an additional 1,321 shares during the last quarter. Thoroughbred Financial Services LLC acquired a new position in shares of Palantir Technologies during the second quarter worth $290,000. WINTON GROUP Ltd bought a new stake in shares of Palantir Technologies in the second quarter worth $241,000. Dimensional Fund Advisors LP grew its stake in shares of Palantir Technologies by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock worth $72,963,000 after purchasing an additional 278,544 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in Palantir Technologies in the second quarter valued at $242,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Robert W. Baird assumed coverage on Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price on the stock. UBS Group assumed coverage on Palantir Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective on the stock. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $42.12.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 34.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 123,334 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the transaction, the insider now directly owns 331,369 shares in the company, valued at approximately $14,911,605. This represents a 27.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 over the last 90 days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 1.4 %

Shares of PLTR opened at $65.91 on Wednesday. The business’s fifty day moving average is $69.70 and its 200 day moving average is $46.54. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80. The stock has a market cap of $150.14 billion, a P/E ratio of 329.57, a P/E/G ratio of 10.18 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 for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm 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 company posted $0.03 earnings per share. The business’s revenue was up 30.0% on a year-over-year basis. On average, analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

About Palantir Technologies

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.