CWA Asset Management Group LLC Has $26 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

CWA Asset Management Group LLC trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 53.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 343,711 shares of the company’s stock after selling 390,207 shares during the quarter. Palantir Technologies accounts for 1.3% of CWA Asset Management Group LLC’s holdings, making the stock its 10th biggest position. CWA Asset Management Group LLC’s holdings in Palantir Technologies were worth $25,995,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLTR. Walter & Keenan Wealth Management LLC IN ADV increased its holdings in Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after acquiring an additional 235 shares during the last quarter. Greater Midwest Financial Group LLC raised its stake in Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after purchasing an additional 250 shares during the period. Quantum Private Wealth LLC lifted its holdings in Palantir Technologies by 1.1% during the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock worth $865,000 after buying an additional 250 shares in the last quarter. Truvestments Capital LLC lifted its position in Palantir Technologies by 2.4% in the third quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock valued at $453,000 after acquiring an additional 291 shares during the last quarter. Finally, LCM Capital Management Inc raised its stake in shares of Palantir Technologies by 0.9% during the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after buying an additional 300 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PLTR. Robert W. Baird initiated coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price for the company. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. DA Davidson lifted their price objective 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. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, Mizuho increased their price target on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $42.12.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the transaction, the director now owns 138,304 shares in the company, valued at $6,071,545.60. This represents a 5.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 416,053 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the sale, the insider now directly owns 592 shares in the company, valued at $43,908.64. This trade represents a 99.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,160,723 shares of company stock worth $1,408,158,941. 12.93% of the stock is owned by insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded down $0.21 during trading hours on Monday, hitting $79.68. The stock had a trading volume of 31,754,391 shares, compared to its average volume of 54,233,984. The firm has a market capitalization of $181.51 billion, a price-to-earnings ratio of 398.42, a PEG ratio of 10.18 and a beta of 2.82. The stock’s fifty day simple moving average is $66.28 and its 200 day simple moving average is $44.38. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80.

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 analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during 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 business’s revenue was up 30.0% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS 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.