Palantir Technologies Inc. (NASDAQ:PLTR) is Bouvel Investment Partners LLC’s 7th Largest Position

Bouvel Investment Partners LLC cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 111,121 shares of the company’s stock after selling 2,998 shares during the quarter. Palantir Technologies makes up approximately 3.0% of Bouvel Investment Partners LLC’s holdings, making the stock its 7th largest holding. Bouvel Investment Partners LLC’s holdings in Palantir Technologies were worth $8,404,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Northwest Investment Counselors LLC acquired a new stake in Palantir Technologies in the third quarter valued at $25,000. Prestige Wealth Management Group LLC raised its stake in shares of 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 in the last quarter. Wolff Wiese Magana LLC grew its stake in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies in the second quarter worth about $30,000. Finally, Ashburton Jersey Ltd acquired a new stake in Palantir Technologies during the second quarter valued at approximately $36,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 123,334 shares of Palantir Technologies 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 sale, the insider now owns 331,369 shares of the company’s stock, valued at approximately $14,911,605. This represents a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Morgan Stanley reissued an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. Robert W. Baird assumed coverage on Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. Finally, DA Davidson raised their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $42.12.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $69.34 on Friday. The firm’s 50 day moving average price is $69.95 and its two-hundred day moving average price is $46.69. Palantir Technologies Inc. has a twelve month low of $16.03 and a twelve month high of $84.80. The stock has a market cap of $157.95 billion, a price-to-earnings ratio of 346.70, a PEG 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 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 firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the firm earned $0.03 earnings per share. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. On average, research analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal 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.