Edge Wealth Management LLC Sells 3,007 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Edge Wealth Management LLC decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 21.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,143 shares of the company’s stock after selling 3,007 shares during the quarter. Edge Wealth Management LLC’s holdings in Palantir Technologies were worth $843,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLTR. Wolff Wiese Magana LLC increased its position in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC grew its position in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. PSI Advisors LLC grew its holdings in shares of Palantir Technologies by 99.7% during the 4th quarter. PSI Advisors LLC now owns 795 shares of the company’s stock valued at $60,000 after purchasing an additional 397 shares during the last quarter. Finally, Kings Path Partners LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth $76,000. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the sale, the insider now directly owns 170,273 shares of the company’s stock, valued at approximately $12,681,933.04. The trade was a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,642,189 shares of company stock valued at $1,444,232,453. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 1.8 %

PLTR opened at $69.34 on Friday. The company has a fifty day moving average price of $69.95 and a two-hundred day moving average price of $46.69. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80. The company has a market cap of $157.95 billion, a P/E ratio of 346.70, a price-to-earnings-growth ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS 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 company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the business posted $0.03 EPS. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, research analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on PLTR shares. Wedbush raised their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Mizuho raised their target price on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Northland Securities upped their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average target price of $42.12.

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.