Procyon Advisors LLC Sells 73,392 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Procyon Advisors LLC lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 47.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,121 shares of the company’s stock after selling 73,392 shares during the quarter. Procyon Advisors LLC’s holdings in Palantir Technologies were worth $6,135,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. WINTON GROUP Ltd bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $241,000. Dimensional Fund Advisors LP lifted 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 valued at $72,963,000 after buying an additional 278,544 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Palantir Technologies during the second quarter valued at about $350,000. Axxcess Wealth Management LLC increased its position in shares of Palantir Technologies by 264.0% during the second quarter. Axxcess Wealth Management LLC now owns 61,970 shares of the company’s stock worth $1,570,000 after acquiring an additional 44,943 shares in the last quarter. Finally, Wealth Alliance acquired a new stake in shares of Palantir Technologies in the 2nd quarter worth about $247,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 1.8 %

Palantir Technologies stock opened at $69.34 on Friday. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The business’s fifty day simple moving average is $70.22 and its two-hundred day simple moving average is $46.85. The company has a market capitalization of $157.95 billion, a price-to-earnings ratio of 346.70, a price-to-earnings-growth ratio of 6.24 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 (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 123,334 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the sale, the insider now owns 331,369 shares in the company, valued at $14,911,605. The trade was a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 company insiders.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of research analyst reports. DA Davidson boosted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research report on Thursday, November 7th. Robert W. Baird started coverage on Palantir Technologies in a research note on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price on the stock. Finally, Northland Securities increased their price objective 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. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.78.

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.