Westend Capital Management LLC Has $20.31 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Westend Capital Management LLC lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 268,556 shares of the company’s stock after selling 881 shares during the quarter. Palantir Technologies comprises 6.0% of Westend Capital Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Westend Capital Management LLC’s holdings in Palantir Technologies were worth $20,311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLTR. RMR Wealth Builders grew its holdings in shares of Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after acquiring an additional 167 shares in the last quarter. Christensen King & Associates Investment Services Inc. increased its position in Palantir Technologies by 3.0% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after buying an additional 174 shares during the last quarter. ST Germain D J Co. Inc. lifted its holdings in Palantir Technologies by 4.4% during the fourth quarter. ST Germain D J Co. Inc. now owns 4,780 shares of the company’s stock valued at $362,000 after purchasing an additional 200 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV increased its stake in shares of Palantir Technologies by 1.2% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock worth $729,000 after purchasing an additional 235 shares in the last quarter. Finally, Greater Midwest Financial Group LLC raised its position in shares of Palantir Technologies by 0.3% in the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after purchasing an additional 250 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PLTR. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research note on Thursday, November 7th. Morgan Stanley reissued an “underweight” rating and set a $60.00 price objective on shares of Palantir Technologies in a report on Monday, January 6th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, 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 price objective for the company. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.78.

Palantir Technologies Stock Performance

PLTR stock opened at $71.77 on Friday. The firm has a market cap of $163.49 billion, a P/E ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82. The firm’s fifty day moving average is $70.49 and its 200 day moving average is $47.17. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 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 the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. As a group, analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 123,334 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $45.00, for a total value of $5,550,030.00. Following the transaction, the insider now owns 331,369 shares in the company, valued at $14,911,605. This represents a 27.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This trade represents a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. Insiders own 12.93% of the company’s stock.

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.