Steigerwald Gordon & Koch Inc. Decreases Position in Palantir Technologies

Investment firm Steigerwald Gordon & Koch Inc. has sold off a portion of its shares in data analytics company Palantir Technologies Inc. (NYSE:PLTR). A recent regulatory filing with the Securities & Exchange Commission revealed that the company divested 5,000 shares, amounting to a 7.7% reduction in its stake, during the third quarter of the financial year. This left Steigerwald Gordon & Koch Inc. with a balance of 59,885 shares by the quarter's end.

Investor Actions on Palantir Shares

Other institutional investors and hedge funds have similarly adjusted their holdings of Palantir Technologies. AlphaCrest Capital Management LLC initiated a new position in the first quarter, valued at $206,000. D.A. Davidson & CO. increased its shares by 18.6%, MetLife Investment Management LLC invested about $1,475,000, Cibc World Market Inc. enhanced its stake by 38.3%, and Dimensional Fund Advisors LP significantly boosted their holdings by 71.9%. Collectively, 34.21% of Palantir's stock is held by institutional investors.

Palantir Stock Price Movement

Palantir Technologies' stock has had ups and downs recently. On one trading day, the stock closed down 1.8%, with a price drop of $0.33, ending at $17.87 per share. Despite this, the company maintains a robust market capitalization of $38.88 billion. Analysts' predictions are mixed, with several downgrading their ratings but some maintaining an optimistic 'outperform' stance. The average stock rating is 'Hold' with a consensus target price of $13.25.

Palantir's Performance and Analyst Outlook

The company's earnings report in November showed better-than-expected results, with an earnings per share (EPS) of $0.03, exceeding estimates by $0.01. The quarter's revenue reached $558.16 million, and analysts foresee an EPS of $0.10 for the current fiscal year. Despite a diverse range of analysts' opinions, Palantir Technologies continues its work building software platforms for intelligence, counterterrorism, and complex data analysis operations.

Insider Transactions Reflect Mixed Sentiments

The transaction history of Palantir insiders presents a mixed sentiment. Significant shares have been sold by insiders, yet post-transaction, significant stakes are still held. Notably, Heather A. Planishek, an insider, sold 13,196 shares in November, while other insiders have sold close to a million shares in recent months, totaling over $19 million in value. Despite these sales, insiders still own a substantial 13.96% of the company's stock, indicating some level of confidence in its future prospects.

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