BluePath Capital Management LLC Sells 5,761 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

BluePath Capital Management LLC cut its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 17.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,635 shares of the company’s stock after selling 5,761 shares during the quarter. Palantir Technologies makes up approximately 1.1% of BluePath Capital Management LLC’s investment portfolio, making the stock its 18th largest holding. BluePath Capital Management LLC’s holdings in Palantir Technologies were worth $2,014,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PLTR. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC increased its position in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares in the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Palantir Technologies in the 2nd quarter worth $30,000. Finally, Ashburton Jersey Ltd purchased a new position in Palantir Technologies during the 2nd quarter worth $36,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 123,334 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the sale, the insider now directly owns 331,369 shares in the company, valued at $14,911,605. This represents a 27.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,642,189 shares of company stock valued at $1,444,232,453 over the last quarter. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $68.14 on Thursday. The business’s 50 day moving average price is $69.70 and its 200-day moving average price is $46.54. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The firm has a market capitalization of $155.22 billion, a price-to-earnings ratio of 340.72, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82.

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, beating 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 business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the firm posted $0.03 earnings per share. The company’s revenue was up 30.0% compared to the same quarter last year. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on PLTR. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Wedbush increased their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Bank of America boosted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. 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 set a $60.00 price objective on shares of Palantir Technologies in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.12.

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.