Alpha Cubed Investments LLC Sells 160,255 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Alpha Cubed Investments LLC cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 68.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,294 shares of the company’s stock after selling 160,255 shares during the period. Alpha Cubed Investments LLC’s holdings in Palantir Technologies were worth $5,543,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Palantir Technologies by 10.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock valued at $72,963,000 after acquiring an additional 278,544 shares during the period. Edgestream Partners L.P. bought a new stake in Palantir Technologies in the second quarter valued at about $350,000. Amalgamated Bank raised its position in Palantir Technologies by 5.0% in the second quarter. Amalgamated Bank now owns 135,982 shares of the company’s stock worth $3,444,000 after purchasing an additional 6,472 shares in the last quarter. Blair William & Co. IL lifted its stake in Palantir Technologies by 18.4% during the second quarter. Blair William & Co. IL now owns 61,927 shares of the company’s stock worth $1,569,000 after purchasing an additional 9,623 shares during the period. Finally, Seven Eight Capital LP acquired a new stake in Palantir Technologies during the second quarter valued at approximately $351,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $71.77 on Tuesday. The stock’s 50-day simple moving average is $70.72 and its 200 day simple moving average is $47.79. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80. The company has a market cap of $163.49 billion, a P/E ratio of 358.87, a P/E/G ratio of 6.66 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company 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 business’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 EPS. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following 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. Insiders have sold 23,642,189 shares of company stock worth $1,444,232,453 in the last ninety days. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Cantor Fitzgerald started coverage on shares of Palantir Technologies in a research report on Friday. They issued a “neutral” rating and a $72.00 price objective for the company. Morgan Stanley reiterated an “underweight” rating and issued a $60.00 price objective on shares of Palantir Technologies in a report on Monday, January 6th. The Goldman Sachs Group raised their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. UBS Group initiated coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Finally, Robert W. Baird started coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.