Palantir Technologies Inc. (NASDAQ:PLTR) is CWA Asset Management Group LLC’s 10th Largest Position

CWA Asset Management Group LLC lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 53.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 343,711 shares of the company’s stock after selling 390,207 shares during the period. Palantir Technologies accounts for about 1.3% of CWA Asset Management Group LLC’s portfolio, making the stock its 10th largest position. CWA Asset Management Group LLC’s holdings in Palantir Technologies were worth $25,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in PLTR. Franchise Capital Ltd acquired a new position in shares of Palantir Technologies in the 4th quarter worth approximately $3,601,000. GAMMA Investing LLC lifted its position in shares of Palantir Technologies by 124.8% during the 4th quarter. GAMMA Investing LLC now owns 12,843 shares of the company’s stock worth $971,000 after buying an additional 7,130 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Palantir Technologies by 52.6% in the 4th quarter. Versant Capital Management Inc now owns 4,480 shares of the company’s stock valued at $339,000 after buying an additional 1,544 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Palantir Technologies by 226.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after buying an additional 1,969,213 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after acquiring an additional 2,984,348 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded down $0.21 during trading on Monday, hitting $79.68. 31,754,391 shares of the stock were exchanged, compared to its average volume of 54,233,984. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The stock’s fifty day moving average is $66.28 and its 200 day moving average is $44.38. The stock has a market cap of $181.51 billion, a PE ratio of 398.42, a P/E/G ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share 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 analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLTR. Robert W. Baird initiated coverage on shares of Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price on the stock. Morgan Stanley restated an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research report on Monday. 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 research report on Monday, November 25th. Northland Securities upped their price objective on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $42.12.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 416,053 shares of Palantir Technologies stock in a transaction on Friday, December 13th. The stock was sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the transaction, the insider now owns 592 shares in the company, valued at $43,908.64. The trade was a 99.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 23,160,723 shares of company stock valued at $1,408,158,941. Corporate insiders own 12.93% of the company’s stock.

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.