Montchanin Asset Management LLC Reduces Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Montchanin Asset Management LLC lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 25.5% during the fourth quarter, Holdings Channel reports. The fund owned 15,800 shares of the company’s stock after selling 5,400 shares during the quarter. Palantir Technologies makes up 1.2% of Montchanin Asset Management LLC’s holdings, making the stock its 18th largest holding. Montchanin Asset Management LLC’s holdings in Palantir Technologies were worth $1,195,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PLTR. Toronto Dominion Bank raised its stake in shares of Palantir Technologies by 266.2% during the 4th quarter. Toronto Dominion Bank now owns 3,932,955 shares of the company’s stock valued at $297,449,000 after buying an additional 2,859,091 shares during the last quarter. Blue Sky Capital Consultants Group Inc. acquired a new stake in Palantir Technologies during the fourth quarter worth about $9,380,000. Formidable Asset Management LLC purchased a new position in Palantir Technologies during the fourth quarter valued at approximately $457,000. North Star Asset Management Inc. lifted its holdings in Palantir Technologies by 33.3% in the fourth quarter. North Star Asset Management Inc. now owns 8,229 shares of the company’s stock valued at $622,000 after acquiring an additional 2,054 shares during the period. Finally, Cache Advisors LLC purchased a new stake in Palantir Technologies in the 4th quarter worth approximately $8,150,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PLTR. Citigroup boosted their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Royal Bank of Canada restated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. William Blair set a $84.00 price target on Palantir Technologies in a report on Wednesday, March 5th. Finally, Bank of America raised their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $83.95.

Palantir Technologies Trading Up 0.8%

NASDAQ:PLTR opened at $123.31 on Friday. The company has a market cap of $289.21 billion, a P/E ratio of 649.03, a P/E/G ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a twelve month low of $20.64 and a twelve month high of $133.49. The company’s 50-day moving average price is $102.66 and its 200-day moving average price is $87.59.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same period in the previous year, the firm earned $0.08 earnings per share. Palantir Technologies’s quarterly revenue was up 39.4% compared to the same quarter last year. On average, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 3,936 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $495,817.92. Following the completion of the transaction, the insider now owns 363,755 shares in the company, valued at $45,822,217.35. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 39,825 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $5,016,755.25. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $810,271,540.26. This trade represents a 0.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,931,701 shares of company stock worth $373,180,433 in the last ninety days. 9.23% of the stock is owned by corporate insiders.

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.