Wealthcare Advisory Partners LLC Reduces Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Wealthcare Advisory Partners LLC decreased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 13.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,519 shares of the company’s stock after selling 4,070 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Palantir Technologies were worth $1,930,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Everpar Advisors LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $241,000. RDA Financial Network acquired a new position in Palantir Technologies during the fourth quarter worth $355,000. Sard Wealth Management Group LLC purchased a new stake in Palantir Technologies during the fourth quarter worth $222,000. Decker Retirement Planning Inc. acquired a new stake in Palantir Technologies in the fourth quarter valued at $3,397,000. Finally, StoneCrest Wealth Management Inc. purchased a new position in shares of Palantir Technologies in the fourth quarter valued at $545,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research reports. 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 note on Monday, November 25th. Northland Securities raised their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Morgan Stanley restated an “underweight” rating and set a $60.00 price objective on shares of Palantir Technologies in a research report on Monday, January 6th. Bank of America increased their target price on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $43.78.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Up 3.7 %

Shares of PLTR opened at $71.77 on Friday. Palantir Technologies Inc. has a fifty-two week low of $16.03 and a fifty-two week high of $84.80. The company’s fifty day moving average is $70.49 and its two-hundred day moving average is $47.17. The firm has a market cap of $163.49 billion, a PE ratio of 358.87, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 earnings per share. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share 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.