Wealthspire Advisors LLC Decreases Stake in Palantir Technologies Inc. (NYSE:PLTR)

Wealthspire Advisors LLC cut its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,458 shares of the company’s stock after selling 22,870 shares during the period. Wealthspire Advisors LLC’s holdings in Palantir Technologies were worth $1,948,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Pacifica Partners Inc. bought a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $27,000. Truvestments Capital LLC grew its position in Palantir Technologies by 74.9% in the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares during the period. SJS Investment Consulting Inc. raised its stake in Palantir Technologies by 1,197.4% during the 4th quarter. SJS Investment Consulting Inc. now owns 2,011 shares of the company’s stock valued at $35,000 after buying an additional 1,856 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Palantir Technologies during the 4th quarter valued at $33,000. Finally, Provence Wealth Management Group purchased a new position in shares of Palantir Technologies in the 3rd quarter worth $34,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Down 1.9 %

NYSE:PLTR traded down $0.42 during mid-day trading on Thursday, reaching $21.14. The company’s stock had a trading volume of 53,926,558 shares, compared to its average volume of 63,561,500. The stock has a fifty day moving average of $23.28 and a 200-day moving average of $20.36. Palantir Technologies Inc. has a 1 year low of $9.02 and a 1 year high of $27.50. The firm has a market capitalization of $46.78 billion, a PE ratio of 237.47, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. On average, analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of recent research reports. Monness Crespi & Hardt upgraded Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday, April 26th. Citigroup upped their price objective on Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday. HSBC upped their target price on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price target on Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Tuesday. Finally, Royal Bank of Canada boosted their price objective on Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a report on Tuesday. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $20.65.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the sale, the director now owns 181,830 shares of the company’s stock, valued at $4,563,933. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the transaction, the director now directly owns 181,830 shares of the company’s stock, valued at $4,563,933. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $18,819,650. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,206,273 shares of company stock worth $178,543,602. 13.96% of the stock is currently owned by company insiders.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.